Zevra Therapeutics (NASDAQ:ZVRA) Stock Price Crosses Below 200 Day Moving Average on Analyst Downgrade

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) shares passed below its 200-day moving average during trading on Friday after BTIG Research lowered their price target on the stock from $24.00 to $21.00. The stock has a 200-day moving average of $10.83 and traded as low as $9.01. BTIG Research currently has a buy rating on the stock. Zevra Therapeutics shares last traded at $9.08, with a volume of 2,941,736 shares trading hands.

ZVRA has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of Zevra Therapeutics in a research note on Thursday, August 20th. Cantor Fitzgerald decreased their price objective on Zevra Therapeutics from $25.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday. Citizens Jmp raised their price objective on Zevra Therapeutics from $25.00 to $28.00 and gave the company a “market outperform” rating in a report on Thursday, August 6th. Guggenheim dropped their target price on Zevra Therapeutics from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Zevra Therapeutics in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.57.

Insider Activity at Zevra Therapeutics

In related news, CEO Neil McFarlane sold 20,000 shares of Zevra Therapeutics stock in a transaction on Monday, October 12th. The shares were sold at an average price of $11.25, for a total value of $225,000.00. Following the transaction, the chief executive officer owned 417,225 shares in the company, valued at $4,693,781.25. This trade represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.70% of the company’s stock.

Key Stories Impacting Zevra Therapeutics

Investors following ZVRA have been watching these stories:

• Positive Sentiment: BTIG Research maintained a Buy rating, with a reduced price target of $21 from $24. BTIG Research ratings
• Positive Sentiment: Cantor Fitzgerald kept its Overweight rating while cutting its target to $19 from $25. Both firms’ revised targets remain well above the cited $9.08 share price, though the reductions temper their outlook. Cantor Fitzgerald ratings
• Neutral Sentiment: Options traders bought 9,221 put contracts Thursday, 121% above the typical daily volume. The activity may reflect increased hedging or bearish positioning, but its significance is uncertain.

Institutional Trading of Zevra Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new position in shares of Zevra Therapeutics in the third quarter worth about $820,000. Nantahala Capital Management LLC lifted its stake in shares of Zevra Therapeutics by 9.2% in the 3rd quarter. Nantahala Capital Management LLC now owns 1,963,096 shares of the company’s stock valued at $21,535,000 after acquiring an additional 165,620 shares during the last quarter. First Trust Advisors LP boosted its holdings in Zevra Therapeutics by 16.9% during the 3rd quarter. First Trust Advisors LP now owns 12,266 shares of the company’s stock valued at $135,000 after acquiring an additional 1,771 shares during the period. Royce & Associates LP boosted its holdings in Zevra Therapeutics by 3.0% during the 3rd quarter. Royce & Associates LP now owns 909,137 shares of the company’s stock valued at $9,973,000 after acquiring an additional 26,479 shares during the period. Finally, Fulcrum Asset Management LLP purchased a new stake in Zevra Therapeutics during the 3rd quarter valued at about $31,000. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

Zevra Therapeutics Stock Performance

The firm has a 50-day moving average of $10.99 and a 200-day moving average of $10.83. The firm has a market capitalization of $540.35 million, a P/E ratio of 7.63 and a beta of 1.01.

Zevra Therapeutics (NASDAQ:ZVRA) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The business had revenue of $37.76 million for the quarter, compared to analysts’ expectations of $37.08 million. Zevra Therapeutics had a return on equity of 54.64% and a net margin of 52.80%. Equities analysts anticipate that Zevra Therapeutics, Inc. will post 0.88 EPS for the current fiscal year.

Zevra Therapeutics Company Profile

Zevra Therapeutics, Inc. is a U.S.-based biopharmaceutical company focused on developing and commercializing treatments for rare diseases. Its work includes research and development as well as bringing therapies to patients with limited treatment options. The company’s products include MIPLYFFA (arimoclomol), approved in the United States for neurological manifestations of Niemann-Pick disease type C, and OLPRUVA (sodium phenylbutyrate), a treatment for certain urea cycle disorders. Zevra also advances investigational therapies for rare and complex conditions.