Zevra Therapeutics (NASDAQ:ZVRA) Trading Down 4.8% – What’s Next?

Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) were down 4.8% during trading on Thursday . The stock traded as low as $13.99 and last traded at $14.0380. Approximately 662,631 shares changed hands during trading, a decline of 50% from the average session volume of 1,336,110 shares. The stock had previously closed at $14.75.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citizens Jmp boosted their target price on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 9th. BTIG Research restated a “buy” rating and issued a $27.00 price target (up from $23.00) on shares of Zevra Therapeutics in a report on Tuesday, June 9th. Canaccord Genuity Group lifted their price target on shares of Zevra Therapeutics from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. UBS Group reiterated a “buy” rating on shares of Zevra Therapeutics in a report on Wednesday, June 24th. Finally, Citigroup reissued an “outperform” rating on shares of Zevra Therapeutics in a research report on Tuesday, June 9th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.29.

Zevra Therapeutics Stock Performance

The business has a fifty day moving average of $11.95 and a 200-day moving average of $10.15. The company has a market capitalization of $826.72 million, a P/E ratio of 7.03 and a beta of 0.85.

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

Institutional Investors Weigh In On Zevra Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Stratos Wealth Partners LTD. boosted its holdings in Zevra Therapeutics by 78.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 409,000 shares of the company’s stock worth $3,665,000 after acquiring an additional 180,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Zevra Therapeutics by 1,458.8% in the third quarter. JPMorgan Chase & Co. now owns 438,984 shares of the company’s stock valued at $4,175,000 after purchasing an additional 410,823 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Zevra Therapeutics in the fourth quarter valued at about $1,251,000. AIGH Capital Management LLC bought a new position in shares of Zevra Therapeutics during the first quarter valued at about $11,184,000. Finally, Kingdon Capital Management L.L.C. lifted its position in shares of Zevra Therapeutics by 44.4% during the third quarter. Kingdon Capital Management L.L.C. now owns 650,000 shares of the company’s stock valued at $6,182,000 after purchasing an additional 200,000 shares in the last quarter. 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. 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.