Zevra Therapeutics (NASDAQ:ZVRA) Hits New 52-Week High After Analyst Upgrade

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares hit a new 52-week high on Tuesday after Canaccord Genuity Group raised their price target on the stock from $24.00 to $29.00. Canaccord Genuity Group currently has a buy rating on the stock. Zevra Therapeutics traded as high as $13.78 and last traded at $13.4840, with a volume of 1718458 shares trading hands. The stock had previously closed at $12.09.

Several other research analysts also recently issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of Zevra Therapeutics from $24.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings cut Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Wall Street Zen downgraded Zevra Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. Citizens Jmp boosted their target price on Zevra Therapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Zevra Therapeutics in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Zevra Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Institutional Trading of Zevra Therapeutics

A number of institutional investors have recently added to or reduced their stakes in ZVRA. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Zevra Therapeutics during the fourth quarter worth about $53,000. Russell Investments Group Ltd. boosted its position in Zevra Therapeutics by 235.7% during the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company’s stock worth $61,000 after purchasing an additional 4,475 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Zevra Therapeutics by 617.5% during the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company’s stock worth $88,000 after purchasing an additional 8,552 shares in the last quarter. Creative Planning acquired a new stake in Zevra Therapeutics in the second quarter valued at $92,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Zevra Therapeutics in the 2nd quarter valued at about $99,000. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Zevra Therapeutics Trading Up 12.3%

The stock’s 50 day moving average is $10.37 and its 200 day moving average is $9.39. The stock has a market capitalization of $802.73 million, a price-to-earnings ratio of 6.82 and a beta of 0.91.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.12. Zevra Therapeutics had a net margin of 101.58% and a return on equity of 51.49%. The company had revenue of $36.22 million for the quarter, compared to the consensus estimate of $31.96 million. On average, sell-side analysts anticipate that Zevra Therapeutics, Inc. will post 0.56 EPS for the current year.

Zevra Therapeutics Company Profile

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.