Wall Street Zen Downgrades Zevra Therapeutics (NASDAQ:ZVRA) to Hold

Zevra Therapeutics (NASDAQ:ZVRA) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

ZVRA has been the subject of a number of other reports. Weiss Ratings upgraded shares of Zevra Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. HC Wainwright set a $26.00 target price on Zevra Therapeutics in a research report on Tuesday, December 30th. Finally, Guggenheim set a $23.00 price target on Zevra Therapeutics and gave the stock a “buy” rating in a report on Tuesday, March 10th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Zevra Therapeutics Price Performance

ZVRA opened at $9.98 on Friday. The firm has a 50-day moving average price of $8.93 and a 200-day moving average price of $9.09. Zevra Therapeutics has a twelve month low of $6.19 and a twelve month high of $13.16. The company has a quick ratio of 5.63, a current ratio of 5.68 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $585.93 million, a price-to-earnings ratio of 7.50 and a beta of 0.91.

Insiders Place Their Bets

In other Zevra Therapeutics news, SVP Timothy J. Sangiovanni sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $9.18, for a total value of $27,540.00. Following the transaction, the senior vice president directly owned 29,590 shares in the company, valued at $271,636.20. This represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adrian W. Quartel sold 4,533 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $8.83, for a total value of $40,026.39. Following the completion of the sale, the insider directly owned 9,723 shares in the company, valued at approximately $85,854.09. The trade was a 31.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 114,158 shares of company stock worth $1,062,878. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of Zevra Therapeutics in the third quarter worth approximately $8,676,000. Rubric Capital Management LP lifted its position in Zevra Therapeutics by 60.8% during the second quarter. Rubric Capital Management LP now owns 1,958,318 shares of the company’s stock valued at $17,253,000 after purchasing an additional 740,584 shares during the last quarter. Royce & Associates LP purchased a new position in Zevra Therapeutics in the 3rd quarter worth approximately $6,574,000. Adage Capital Partners GP L.L.C. grew its stake in Zevra Therapeutics by 15.2% in 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 in the last quarter. Finally, Nantahala Capital Management LLC increased its holdings in shares of Zevra Therapeutics by 34.0% in the 3rd quarter. Nantahala Capital Management LLC now owns 1,971,936 shares of the company’s stock worth $18,753,000 after buying an additional 500,000 shares during the last quarter. Hedge funds and other institutional investors own 35.03% of the company’s stock.

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.