Zevra Therapeutics (NASDAQ:ZVRA) Sets New 12-Month High – Here’s Why

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $9.57 and last traded at $9.37, with a volume of 237018 shares changing hands. The stock had previously closed at $9.13.

Analyst Upgrades and Downgrades

ZVRA has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zevra Therapeutics in a report on Friday, October 11th. Guggenheim began coverage on shares of Zevra Therapeutics in a report on Monday, October 7th. They issued a “buy” rating and a $20.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Zevra Therapeutics in a research report on Wednesday. Maxim Group upped their price objective on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, William Blair raised Zevra Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $21.00.

Zevra Therapeutics Stock Performance

The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $8.19 and a 200-day simple moving average of $6.63. The company has a market capitalization of $511.61 million, a P/E ratio of -4.87 and a beta of 1.93.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.25). The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.04 million. Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 159.54%. During the same period in the prior year, the business earned ($0.40) earnings per share. Equities analysts forecast that Zevra Therapeutics, Inc. will post -1.96 EPS for the current year.

Institutional Investors Weigh In On Zevra Therapeutics

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Zevra Therapeutics by 3.6% during the first quarter. Vanguard Group Inc. now owns 1,704,006 shares of the company’s stock worth $9,883,000 after purchasing an additional 58,866 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Zevra Therapeutics in the 1st quarter valued at about $64,000. Jacobs Levy Equity Management Inc. increased its position in Zevra Therapeutics by 102.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 34,707 shares of the company’s stock valued at $201,000 after acquiring an additional 17,557 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Zevra Therapeutics by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 220,499 shares of the company’s stock worth $1,080,000 after purchasing an additional 21,231 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Zevra Therapeutics by 17.9% during the second quarter. Rhumbline Advisers now owns 56,874 shares of the company’s stock worth $279,000 after purchasing an additional 8,619 shares in the last quarter. 35.03% of the stock is currently owned by institutional investors.

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.