Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Sees Large Drop in Short Interest

Zevra Therapeutics, Inc. (NASDAQ:ZVRA) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 3,940,000 shares, a drop of 21.2% from the October 15th total of 5,000,000 shares. Approximately 7.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 851,000 shares, the short-interest ratio is presently 4.6 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZVRA. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Zevra Therapeutics in a report on Monday, September 30th. Canaccord Genuity Group lowered their price target on shares of Zevra Therapeutics from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. Guggenheim started coverage on shares of Zevra Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $20.00 price target for the company. Roth Mkm lifted their price objective on Zevra Therapeutics from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Maxim Group increased their target price on Zevra Therapeutics from $18.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $21.00.

Institutional Trading of Zevra Therapeutics

Several large investors have recently added to or reduced their stakes in ZVRA. MetLife Investment Management LLC lifted its holdings in Zevra Therapeutics by 8.1% in the third quarter. MetLife Investment Management LLC now owns 22,866 shares of the company’s stock worth $159,000 after buying an additional 1,717 shares during the period. City State Bank boosted its position in shares of Zevra Therapeutics by 14.1% during the third quarter. City State Bank now owns 16,224 shares of the company’s stock valued at $113,000 after purchasing an additional 2,000 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Zevra Therapeutics by 15.2% in the second quarter. The Manufacturers Life Insurance Company now owns 18,573 shares of the company’s stock worth $91,000 after purchasing an additional 2,452 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Zevra Therapeutics by 594.0% in the third quarter. International Assets Investment Management LLC now owns 6,940 shares of the company’s stock worth $48,000 after purchasing an additional 5,940 shares in the last quarter. Finally, IFG Advisors LLC lifted its position in Zevra Therapeutics by 41.2% during the third quarter. IFG Advisors LLC now owns 26,400 shares of the company’s stock valued at $183,000 after buying an additional 7,700 shares during the period. Institutional investors own 35.03% of the company’s stock.

Zevra Therapeutics Price Performance

ZVRA stock opened at $8.62 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.80. The firm’s 50-day moving average price is $8.03 and its two-hundred day moving average price is $6.50. The stock has a market capitalization of $453.57 million, a price-to-earnings ratio of -4.38 and a beta of 1.93. Zevra Therapeutics has a 12-month low of $4.18 and a 12-month high of $9.21.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.25). The business had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.04 million. Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 177.96%. During the same period in the previous year, the company earned ($0.40) EPS. As a group, equities analysts predict that Zevra Therapeutics will post -1.63 earnings per share for the current year.

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.