Zevra Therapeutics (NASDAQ:ZVRA) Shares Gap Down – Here’s Why

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares gapped down prior to trading on Friday . The stock had previously closed at $12.52, but opened at $9.21. Zevra Therapeutics shares last traded at $10.04, with a volume of 2,268,927 shares trading hands.

Analyst Ratings Changes

ZVRA has been the topic of a number of recent analyst reports. Wall Street Zen raised Zevra Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings downgraded Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 22nd. UBS Group restated a “buy” rating on shares of Zevra Therapeutics in a research report on Wednesday, June 24th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of Zevra Therapeutics in a research note on Tuesday, June 23rd. Finally, BTIG Research reiterated 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. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.29.

Zevra Therapeutics Trading Down 21.6%

The company has a 50 day moving average price of $12.40 and a 200 day moving average price of $10.47. The firm has a market cap of $580.44 million, a PE ratio of 4.94 and a beta of 0.85.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.12. The firm had revenue of $36.22 million during the quarter, compared to the consensus estimate 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 anticipate that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Zevra Therapeutics by 6.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company’s stock valued at $238,000 after acquiring an additional 1,812 shares during the last quarter. Strs Ohio acquired a new position in Zevra Therapeutics during the first quarter worth about $125,000. Creative Planning purchased a new stake in shares of Zevra Therapeutics in the second quarter valued at about $92,000. Rhumbline Advisers grew its position in shares of Zevra Therapeutics by 11.6% in the second quarter. Rhumbline Advisers now owns 83,221 shares of the company’s stock valued at $733,000 after purchasing an additional 8,636 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Zevra Therapeutics in the second quarter valued at approximately $255,000. 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.