Insider Buying: Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Director Buys 10,000 Shares of Stock

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Director John B. Bode purchased 10,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was acquired at an average price of $7.96 per share, with a total value of $79,600.00. Following the completion of the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $318,400. This represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Zevra Therapeutics Price Performance

NASDAQ:ZVRA opened at $8.01 on Friday. Zevra Therapeutics, Inc. has a twelve month low of $4.20 and a twelve month high of $9.76. The firm has a market capitalization of $433.47 million, a price-to-earnings ratio of -4.07 and a beta of 1.98. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.84. The stock’s 50 day moving average price is $7.90 and its two-hundred day moving average price is $8.17.

Zevra Therapeutics (NASDAQ:ZVRA) last issued its earnings results on Tuesday, March 11th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.28). Zevra Therapeutics had a negative return on equity of 159.54% and a negative net margin of 342.63%. The firm had revenue of $12.00 million for the quarter, compared to analyst estimates of $8.93 million. Equities research analysts expect that Zevra Therapeutics, Inc. will post -1.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZVRA. JMP Securities set a $18.00 price target on shares of Zevra Therapeutics in a research note on Wednesday, March 12th. Canaccord Genuity Group upped their target price on shares of Zevra Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, March 13th. Citigroup reissued an “outperform” rating on shares of Zevra Therapeutics in a research note on Wednesday, March 12th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Zevra Therapeutics in a report on Thursday, March 13th. Finally, Guggenheim lifted their target price on Zevra Therapeutics from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, March 13th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $22.29.

Institutional Investors Weigh In On Zevra Therapeutics

Hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. raised its stake in Zevra Therapeutics by 462.4% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,650,000 shares of the company’s stock valued at $30,441,000 after buying an additional 3,001,000 shares during the period. FMR LLC lifted its holdings in Zevra Therapeutics by 282,687.5% during the 3rd quarter. FMR LLC now owns 2,313,202 shares of the company’s stock valued at $16,054,000 after purchasing an additional 2,312,384 shares during the last quarter. AIGH Capital Management LLC bought a new position in Zevra Therapeutics during the fourth quarter worth $6,577,000. Stonepine Capital Management LLC acquired a new position in shares of Zevra Therapeutics in the third quarter valued at $4,858,000. Finally, Vestal Point Capital LP bought a new position in shares of Zevra Therapeutics in the third quarter valued at about $3,644,000. 35.03% of the stock is currently owned by institutional investors and hedge funds.

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.