Stock Traders Purchase High Volume of Zevra Therapeutics Call Options (NASDAQ:ZVRA)

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) was the recipient of some unusual options trading on Tuesday. Stock investors bought 2,300 call options on the company. This is an increase of approximately 100% compared to the typical daily volume of 1,150 call options.

Zevra Therapeutics Stock Up 12.3%

Shares of NASDAQ ZVRA traded up $1.49 during midday trading on Tuesday, reaching $13.58. The company had a trading volume of 1,926,175 shares, compared to its average volume of 1,247,809. The stock has a market cap of $802.73 million, a PE ratio of 6.82 and a beta of 0.91. Zevra Therapeutics has a one year low of $7.16 and a one year high of $13.78. The firm’s fifty day moving average price is $10.37 and its 200-day moving average price is $9.39.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12. The business had revenue of $36.22 million for the quarter, compared to analysts’ expectations of $31.96 million. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%. As a group, equities research analysts expect that Zevra Therapeutics will post 0.56 EPS for the current year.

Analysts Set New Price Targets

ZVRA has been the topic of several recent research reports. Cantor Fitzgerald upped their price objective on shares of Zevra Therapeutics from $24.00 to $34.00 and gave the company an “overweight” rating in a report on Monday. Guggenheim upped their price target on shares of Zevra Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Citizens Jmp raised their price objective on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “market outperform” rating in a report on Tuesday. Weiss Ratings cut Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Finally, Canaccord Genuity Group raised their price objective on shares of Zevra Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Institutional Investors Weigh In On Zevra Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Zevra Therapeutics in the fourth quarter valued at about $53,000. Russell Investments Group Ltd. lifted its stake in Zevra Therapeutics by 235.7% in the third quarter. Russell Investments Group Ltd. now owns 6,374 shares of the company’s stock worth $61,000 after acquiring an additional 4,475 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company’s stock valued at $88,000 after acquiring an additional 8,552 shares in the last quarter. Creative Planning purchased a new position in Zevra Therapeutics during the 2nd quarter valued at $92,000. Finally, Quarry LP bought a new position in Zevra Therapeutics in the 3rd quarter worth $103,000. Hedge funds and other institutional investors own 35.03% of the company’s stock.

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.