Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Sees Significant Decrease in Short Interest

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,940,000 shares, a decrease of 21.2% from the October 15th total of 5,000,000 shares. Currently, 7.5% of the company’s stock are sold short. Based on an average trading volume of 851,000 shares, the days-to-cover ratio is currently 4.6 days.

Zevra Therapeutics Trading Down 4.5 %

Shares of ZVRA opened at $8.62 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.80. The stock has a market cap of $453.57 million, a PE ratio of -4.38 and a beta of 1.93. Zevra Therapeutics has a 1 year low of $4.18 and a 1 year high of $9.21. The stock has a 50 day simple moving average of $8.03 and a 200-day simple moving average of $6.49.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.01). The company had revenue of $4.45 million for the quarter, compared to the consensus estimate of $4.08 million. Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 177.96%. During the same period in the previous year, the business posted ($0.15) earnings per share. On average, sell-side analysts predict that Zevra Therapeutics will post -1.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. William Blair upgraded shares of Zevra Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. JMP Securities began coverage on Zevra Therapeutics in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $17.00 price objective on the stock. Guggenheim started coverage on Zevra Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $20.00 price objective for the company. Canaccord Genuity Group lowered their target price on Zevra Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Zevra Therapeutics in a report on Monday, September 30th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $21.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ZVRA. Sanctuary Advisors LLC bought a new stake in Zevra Therapeutics during the 2nd quarter worth about $474,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Zevra Therapeutics by 102.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 34,707 shares of the company’s stock worth $201,000 after purchasing an additional 17,557 shares in the last quarter. Simplify Asset Management Inc. bought a new stake in shares of Zevra Therapeutics during the third quarter valued at approximately $833,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Zevra Therapeutics during the first quarter valued at approximately $64,000. Finally, Vanguard Group Inc. increased its holdings in shares of Zevra Therapeutics by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,704,006 shares of the company’s stock valued at $9,883,000 after purchasing an additional 58,866 shares in the last quarter. Institutional investors 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.