Guggenheim Forecasts Strong Price Appreciation for Zevra Therapeutics (NASDAQ:ZVRA) Stock

Zevra Therapeutics (NASDAQ:ZVRA) had its target price hoisted by stock analysts at Guggenheim from $20.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 164.74% from the company’s previous close.

Several other research analysts also recently weighed in on ZVRA. Citigroup restated an “outperform” rating on shares of Zevra Therapeutics in a report on Wednesday. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Zevra Therapeutics in a report on Thursday. Canaccord Genuity Group lowered their price objective on shares of Zevra Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of Zevra Therapeutics in a report on Wednesday. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zevra Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $22.14.

Zevra Therapeutics Trading Up 4.7 %

NASDAQ:ZVRA opened at $8.31 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.88 and a current ratio of 2.88. Zevra Therapeutics has a 52 week low of $4.20 and a 52 week high of $9.76. The firm’s fifty day moving average is $7.93 and its 200-day moving average is $8.15. The firm has a market cap of $443.55 million, a P/E ratio of -4.22 and a beta of 1.98.

Zevra Therapeutics (NASDAQ:ZVRA) last released its earnings results on Tuesday, March 11th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.28). Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 159.54%. The company had revenue of $12.00 million for the quarter, compared to analyst estimates of $8.93 million. Equities analysts expect that Zevra Therapeutics will post -1.95 earnings per share for the current year.

Insider Activity at Zevra Therapeutics

In other Zevra Therapeutics news, CEO Neil F. Mcfarlane sold 61,273 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.86, for a total transaction of $481,605.78. Following the completion of the transaction, the chief executive officer now owns 222,060 shares in the company, valued at $1,745,391.60. This trade represents a 21.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO R. Laduane Clifton sold 11,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $7.86, for a total transaction of $86,460.00. Following the transaction, the chief financial officer now owns 51,361 shares of the company’s stock, valued at $403,697.46. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,773 shares of company stock worth $674,176. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zevra Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZVRA. Woodline Partners LP lifted its holdings in shares of Zevra Therapeutics by 2.2% in the fourth quarter. Woodline Partners LP now owns 4,139,593 shares of the company’s stock worth $34,524,000 after buying an additional 90,940 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Zevra Therapeutics by 462.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,650,000 shares of the company’s stock valued at $30,441,000 after purchasing an additional 3,001,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Zevra Therapeutics by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 2,824,212 shares of the company’s stock valued at $23,554,000 after purchasing an additional 68,151 shares in the last quarter. FMR LLC raised its stake in Zevra Therapeutics by 282,687.5% in the third quarter. FMR LLC now owns 2,313,202 shares of the company’s stock valued at $16,054,000 after purchasing an additional 2,312,384 shares in the last quarter. Finally, Altium Capital Management LLC raised its stake in Zevra Therapeutics by 8.8% in the fourth quarter. Altium Capital Management LLC now owns 1,850,000 shares of the company’s stock valued at $15,429,000 after purchasing an additional 150,000 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.