The Manufacturers Life Insurance Company Purchases 2,452 Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

The Manufacturers Life Insurance Company lifted its position in shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA) by 15.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,573 shares of the company’s stock after purchasing an additional 2,452 shares during the period. The Manufacturers Life Insurance Company’s holdings in Zevra Therapeutics were worth $91,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. increased its stake in Zevra Therapeutics by 6.5% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 458,300 shares of the company’s stock valued at $2,246,000 after buying an additional 28,107 shares during the last quarter. Mystic Asset Management Inc. increased its stake in shares of Zevra Therapeutics by 11.9% during the 2nd quarter. Mystic Asset Management Inc. now owns 297,947 shares of the company’s stock worth $1,460,000 after purchasing an additional 31,650 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Zevra Therapeutics by 17.9% in the 2nd quarter. Rhumbline Advisers now owns 56,874 shares of the company’s stock worth $279,000 after purchasing an additional 8,619 shares during the period. Bank of New York Mellon Corp lifted its stake in Zevra Therapeutics by 10.7% in the second quarter. Bank of New York Mellon Corp now owns 220,499 shares of the company’s stock valued at $1,080,000 after purchasing an additional 21,231 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Zevra Therapeutics by 102.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 34,707 shares of the company’s stock valued at $201,000 after purchasing an additional 17,557 shares during the period. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

Zevra Therapeutics Price Performance

ZVRA stock opened at $8.49 on Monday. The firm has a 50 day moving average of $7.54 and a 200-day moving average of $5.98. The firm has a market capitalization of $355.33 million, a P/E ratio of -6.29 and a beta of 1.94. Zevra Therapeutics, Inc. has a 12 month low of $3.89 and a 12 month high of $8.95. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.80.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.01). The firm had revenue of $4.45 million during the quarter, compared to the consensus estimate of $4.08 million. Zevra Therapeutics had a negative net margin of 274.10% and a negative return on equity of 124.85%. During the same period in the previous year, the business earned ($0.15) earnings per share. As a group, sell-side analysts predict that Zevra Therapeutics, Inc. will post -1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZVRA has been the topic of several research reports. JMP Securities initiated coverage on Zevra Therapeutics in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $17.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Zevra Therapeutics in a research note on Friday, October 11th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Zevra Therapeutics in a research report on Monday, September 30th. Guggenheim initiated coverage on shares of Zevra Therapeutics in a research note on Monday, October 7th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Canaccord Genuity Group dropped their price target on shares of Zevra Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zevra Therapeutics has a consensus rating of “Buy” and an average target price of $20.83.

Zevra Therapeutics Company Profile

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.