Analysts Set Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Price Target at $23.00

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.00.

ZVRA has been the subject of several research reports. Weiss Ratings raised Zevra Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Guggenheim set a $23.00 target price on Zevra Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, March 10th. HC Wainwright set a $26.00 target price on Zevra Therapeutics in a research note on Tuesday, December 30th. Wall Street Zen raised Zevra Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, BTIG Research initiated coverage on Zevra Therapeutics in a research note on Monday, March 16th. They issued a “buy” rating and a $23.00 target price for the company.

Zevra Therapeutics Stock Up 2.6%

Shares of ZVRA opened at $10.67 on Thursday. The firm has a market cap of $626.44 million, a P/E ratio of 8.02 and a beta of 0.89. The stock has a 50 day simple moving average of $9.31 and a two-hundred day simple moving average of $9.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.68 and a quick ratio of 5.63. Zevra Therapeutics has a 1 year low of $6.85 and a 1 year high of $13.16.

Insider Transactions at Zevra Therapeutics

In other Zevra Therapeutics news, insider Adrian W. Quartel sold 4,533 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $8.83, for a total value of $40,026.39. Following the completion of the sale, the insider owned 9,723 shares of the company’s stock, valued at $85,854.09. This represents a 31.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil F. Mcfarlane sold 91,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $9.38, for a total value of $853,580.00. Following the completion of the sale, the chief executive officer directly owned 364,350 shares of the company’s stock, valued at approximately $3,417,603. This represents a 19.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,158 shares of company stock worth $1,062,878 in the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Zevra Therapeutics

A number of institutional investors have recently made changes to their positions in ZVRA. Marshall Wace LLP purchased a new stake in shares of Zevra Therapeutics during the third quarter valued at approximately $8,676,000. Rubric Capital Management LP boosted its stake in shares of Zevra Therapeutics by 60.8% during the second quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company’s stock valued at $17,253,000 after purchasing an additional 740,584 shares during the period. Royce & Associates LP purchased a new stake in shares of Zevra Therapeutics during the third quarter valued at approximately $6,574,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Zevra Therapeutics by 15.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company’s stock valued at $36,720,000 after purchasing an additional 550,000 shares during the period. Finally, Nantahala Capital Management LLC boosted its stake in shares of Zevra Therapeutics by 34.0% during the third quarter. Nantahala Capital Management LLC now owns 1,971,936 shares of the company’s stock valued at $18,753,000 after purchasing an additional 500,000 shares during the period. Hedge funds and other institutional investors own 35.03% of the company’s stock.

About Zevra Therapeutics

Zevra Therapeutics, Inc discovers and develops various proprietary prodrugs to treat serious medical conditions in the United States. The company develops its products through Ligand Activated Therapy platform. Its lead product candidate is KP1077, consisting of KP1077IH, which is under Phase 2 clinical trial for the treatment of idiopathic hypersomnia, and KP1077N, which is under Phase ½ clinical trial to treat narcolepsy. The company is also developing Celiprolol, a prodrug product candidate that is under Phase 1/2 clinical trial for the treatment of vascular Ehlers Danlos syndrome.