Zevra Therapeutics (NASDAQ:ZVRA) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Zevra Therapeutics (NASDAQ:ZVRA) from a buy rating to a hold rating in a research note released on Saturday morning.

ZVRA has been the subject of several other reports. JMP Securities reduced their price objective on Zevra Therapeutics from $19.00 to $18.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 13th. HC Wainwright initiated coverage on Zevra Therapeutics in a research report on Wednesday, July 2nd. They set a “buy” rating and a $26.00 price target for the company. Zacks Research downgraded shares of Zevra Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Weiss Ratings restated a “sell (d)” rating on shares of Zevra Therapeutics in a report on Saturday, September 27th. Finally, Citigroup reiterated an “outperform” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Zevra Therapeutics Trading Up 9.2%

ZVRA opened at $10.65 on Friday. The stock has a market capitalization of $597.78 million, a P/E ratio of -50.71 and a beta of 1.49. The company has a current ratio of 7.85, a quick ratio of 7.81 and a debt-to-equity ratio of 0.52. Zevra Therapeutics has a 12 month low of $6.19 and a 12 month high of $13.16. The firm’s fifty day simple moving average is $9.43 and its 200 day simple moving average is $9.01.

Insiders Place Their Bets

In other Zevra Therapeutics news, Director John B. Bode acquired 5,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $9.16 per share, for a total transaction of $45,800.00. Following the purchase, the director directly owned 45,000 shares of the company’s stock, valued at $412,200. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zevra Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Woodline Partners LP increased its stake in Zevra Therapeutics by 11.5% during the 1st quarter. Woodline Partners LP now owns 4,615,625 shares of the company’s stock worth $34,571,000 after acquiring an additional 476,032 shares during the period. Bank of America Corp DE increased its position in shares of Zevra Therapeutics by 222.4% in the fourth quarter. Bank of America Corp DE now owns 98,245 shares of the company’s stock worth $819,000 after purchasing an additional 67,772 shares during the period. GAMMA Investing LLC raised its stake in Zevra Therapeutics by 20,564.1% in the first quarter. GAMMA Investing LLC now owns 8,059 shares of the company’s stock valued at $60,000 after purchasing an additional 8,020 shares in the last quarter. Rhumbline Advisers lifted its position in Zevra Therapeutics by 9.6% during the first quarter. Rhumbline Advisers now owns 74,585 shares of the company’s stock worth $559,000 after purchasing an additional 6,532 shares during the period. Finally, Readystate Asset Management LP lifted its position in Zevra Therapeutics by 924.6% during the first quarter. Readystate Asset Management LP now owns 683,032 shares of the company’s stock worth $5,116,000 after purchasing an additional 616,370 shares during the period. Institutional investors and hedge funds 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.