Zevra Therapeutics (NASDAQ:ZVRA) Issues Quarterly Earnings Results

Zevra Therapeutics (NASDAQ:ZVRA) released its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03, FiscalAI reports. The business had revenue of $26.06 million for the quarter, compared to analysts’ expectations of $26.64 million. Zevra Therapeutics had a net margin of 4.33% and a negative return on equity of 112.40%.

Zevra Therapeutics Stock Performance

Shares of NASDAQ:ZVRA traded down $0.29 during midday trading on Friday, reaching $8.80. The company’s stock had a trading volume of 882,929 shares, compared to its average volume of 1,046,380. The firm has a market capitalization of $493.76 million, a PE ratio of -41.98 and a beta of 1.52. The stock has a fifty day moving average of $9.56 and a 200 day moving average of $9.53. 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 7.81, a current ratio of 7.85 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ZVRA. Cantor Fitzgerald reduced their target price on Zevra Therapeutics from $29.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday. Wall Street Zen downgraded shares of Zevra Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, October 20th. Canaccord Genuity Group decreased their price objective on shares of Zevra Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup reissued an “outperform” rating on shares of Zevra Therapeutics in a research report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Zevra Therapeutics in a report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

Insider Activity

In related news, Director John B. Bode purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $9.16 per share, with a total value of $45,800.00. Following the transaction, the director owned 45,000 shares of the company’s stock, valued at approximately $412,200. This trade represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil F. Mcfarlane sold 19,500 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $10.82, for a total value of $210,990.00. Following the completion of the transaction, the chief executive officer directly owned 222,016 shares of the company’s stock, valued at approximately $2,402,213.12. This trade represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. 2.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zevra Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Zevra Therapeutics by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,294 shares of the company’s stock valued at $179,000 after purchasing an additional 1,750 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Zevra Therapeutics by 6.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,761 shares of the company’s stock valued at $238,000 after buying an additional 1,812 shares during the period. Tower Research Capital LLC TRC increased its holdings in Zevra Therapeutics by 617.5% in the second quarter. Tower Research Capital LLC TRC now owns 9,937 shares of the company’s stock valued at $88,000 after buying an additional 8,552 shares in the last quarter. Rhumbline Advisers raised its position in shares of Zevra Therapeutics by 11.6% in the second quarter. Rhumbline Advisers now owns 83,221 shares of the company’s stock worth $733,000 after acquiring an additional 8,636 shares during the period. Finally, Creative Planning purchased a new stake in shares of Zevra Therapeutics during the 2nd quarter worth about $92,000. Institutional investors and hedge funds 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.