Zevra Therapeutics (NASDAQ:ZVRA) Reaches New 52-Week High – Time to Buy?

Zevra Therapeutics, Inc. (NASDAQ:ZVRA)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $14.30 and last traded at $14.2950, with a volume of 267986 shares. The stock had previously closed at $14.01.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ZVRA shares. Citizens Jmp increased their price objective on Zevra Therapeutics from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, June 9th. Canaccord Genuity Group boosted their target price on shares of Zevra Therapeutics from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Weiss Ratings lowered shares of Zevra Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Guggenheim increased their price target on shares of Zevra Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Zevra Therapeutics in a research note on Tuesday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Zevra Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $29.29.

Zevra Therapeutics Price Performance

The stock has a 50-day moving average price of $11.54 and a 200-day moving average price of $9.93. The company has a market capitalization of $814.14 million, a price-to-earnings ratio of 6.92 and a beta of 0.85.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its earnings results on Wednesday, May 6th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12. Zevra Therapeutics had a return on equity of 51.49% and a net margin of 101.58%.The business had revenue of $36.22 million for the quarter, compared to analyst estimates of $31.96 million. Equities analysts forecast that Zevra Therapeutics, Inc. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Zevra Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ZVRA. Adage Capital Partners GP L.L.C. lifted its stake in shares of Zevra Therapeutics by 15.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,168,000 shares of the company’s stock worth $36,720,000 after buying an additional 550,000 shares during the last quarter. Vanguard Group Inc. grew its stake in Zevra Therapeutics by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,083,362 shares of the company’s stock valued at $29,323,000 after buying an additional 130,676 shares during the last quarter. Nantahala Capital Management LLC grew its stake in Zevra Therapeutics by 34.0% in the 3rd quarter. Nantahala Capital Management LLC now owns 1,971,936 shares of the company’s stock valued at $18,753,000 after buying an additional 500,000 shares during the last quarter. Rubric Capital Management LP raised its holdings in Zevra Therapeutics by 60.8% in the 2nd quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company’s stock valued at $17,253,000 after acquiring an additional 740,584 shares during the period. Finally, State Street Corp raised its holdings in Zevra Therapeutics by 3.9% in the 4th quarter. State Street Corp now owns 1,482,956 shares of the company’s stock valued at $13,287,000 after acquiring an additional 55,665 shares during the period. 35.03% of the stock is currently owned by institutional investors and hedge funds.

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. 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.