Zevra Therapeutics (NASDAQ:ZVRA) Sets New 12-Month High on Analyst Upgrade

Zevra Therapeutics, Inc. (NASDAQ:ZVRA)’s stock price reached a new 52-week high during trading 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. The stock had previously closed at $12.09.

Other research analysts have also issued research reports about the company. Weiss Ratings lowered Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Citizens Jmp boosted their price target on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating on shares of Zevra Therapeutics in a research note on Tuesday. BTIG Research initiated coverage on shares of Zevra Therapeutics in a report on Monday, March 16th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Citigroup reaffirmed an “outperform” rating on shares of Zevra Therapeutics in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Zevra Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $27.00.

Institutional Investors Weigh In On Zevra Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP raised its position in Zevra Therapeutics by 114.1% in the first quarter. Quantinno Capital Management LP now owns 32,022 shares of the company’s stock valued at $298,000 after purchasing an additional 17,065 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Zevra Therapeutics by 259.2% in the first quarter. Dimensional Fund Advisors LP now owns 554,802 shares of the company’s stock valued at $5,168,000 after purchasing an additional 400,336 shares during the period. AIGH Capital Management LLC acquired a new stake in Zevra Therapeutics during the 1st quarter worth approximately $11,184,000. Simplify Asset Management Inc. grew its stake in shares of Zevra Therapeutics by 137.5% in the first quarter. Simplify Asset Management Inc. now owns 100,630 shares of the company’s stock worth $938,000 after acquiring an additional 58,265 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Zevra Therapeutics by 16.7% during the first quarter. Janney Montgomery Scott LLC now owns 236,834 shares of the company’s stock worth $2,207,000 after acquiring an additional 33,951 shares during the period. 35.03% of the stock is owned by hedge funds and other institutional investors.

Zevra Therapeutics Price Performance

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

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12. The business had revenue of $36.22 million for the quarter, compared to analyst estimates of $31.96 million. Zevra Therapeutics had a net margin of 101.58% and a return on equity of 51.49%. Equities research analysts predict that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current year.

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.