Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Receives Consensus Rating of “Buy” from Brokerages

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) has been given a consensus recommendation of “Buy” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.57.

A number of research firms have weighed in on ZVRA. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Zevra Therapeutics in a research report on Wednesday, November 20th. Cantor Fitzgerald upgraded shares of Zevra Therapeutics to a “strong-buy” rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group reduced their target price on shares of Zevra Therapeutics from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

Insiders Place Their Bets

In other news, CFO R. Laduane Clifton sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.86, for a total value of $86,460.00. Following the completion of the transaction, the chief financial officer now owns 51,361 shares of the company’s stock, valued at approximately $403,697.46. This trade represents a 17.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil F. Mcfarlane sold 61,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.86, for a total transaction of $481,605.78. Following the completion of the transaction, the chief executive officer now directly owns 222,060 shares of the company’s stock, valued at approximately $1,745,391.60. The trade was a 21.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,773 shares of company stock valued at $674,176 over the last 90 days. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vestal Point Capital LP purchased a new position in shares of Zevra Therapeutics in the third quarter valued at approximately $3,644,000. Geode Capital Management LLC lifted its stake in Zevra Therapeutics by 14.2% in the third quarter. Geode Capital Management LLC now owns 1,043,864 shares of the company’s stock worth $7,246,000 after acquiring an additional 129,600 shares during the last quarter. Barclays PLC lifted its stake in Zevra Therapeutics by 292.6% in the third quarter. Barclays PLC now owns 57,599 shares of the company’s stock worth $399,000 after acquiring an additional 42,926 shares during the last quarter. Propel Bio Management LLC purchased a new position in Zevra Therapeutics in the third quarter worth approximately $1,248,000. Finally, Simplify Asset Management Inc. purchased a new position in Zevra Therapeutics in the third quarter worth approximately $833,000. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Zevra Therapeutics Stock Performance

NASDAQ:ZVRA opened at $7.73 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.88 and a current ratio of 2.88. The company has a fifty day moving average of $8.16 and a two-hundred day moving average of $8.09. The stock has a market capitalization of $412.63 million, a PE ratio of -3.92 and a beta of 2.00. Zevra Therapeutics has a fifty-two week low of $4.20 and a fifty-two week high of $9.76.

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.