Short Interest in Zevra Therapeutics, Inc. (NASDAQ:ZVRA) Drops By 21.2%

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

Zevra Therapeutics Stock Up 4.3 %

Shares of NASDAQ:ZVRA opened at $9.03 on Friday. The stock has a market capitalization of $475.16 million, a price-to-earnings ratio of -4.57 and a beta of 1.93. Zevra Therapeutics has a 1-year low of $4.18 and a 1-year high of $9.21. The company’s fifty day moving average is $7.97 and its two-hundred day moving average is $6.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.01). Zevra Therapeutics had a negative return on equity of 177.96% and a negative net margin of 342.63%. The firm had revenue of $4.45 million during the quarter, compared to analyst estimates of $4.08 million. During the same period last year, the business earned ($0.15) EPS. Equities analysts anticipate that Zevra Therapeutics will post -1.63 EPS for the current year.

Analysts Set New Price Targets

ZVRA has been the topic of several recent analyst reports. Maxim Group upped their price target on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. William Blair raised shares of Zevra Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. JMP Securities initiated coverage on shares of Zevra Therapeutics in a report on Tuesday, September 24th. They issued an “outperform” rating and a $17.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Zevra Therapeutics in a report on Monday, September 30th. Finally, Canaccord Genuity Group dropped their target price on shares of Zevra Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $21.00.

Institutional Trading of Zevra Therapeutics

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in shares of Zevra Therapeutics by 594.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,940 shares of the company’s stock worth $48,000 after acquiring an additional 5,940 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of Zevra Therapeutics in the 1st quarter worth about $64,000. The Manufacturers Life Insurance Company increased its holdings in shares of Zevra Therapeutics by 15.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,573 shares of the company’s stock worth $91,000 after acquiring an additional 2,452 shares during the period. Hunter Associates Investment Management LLC acquired a new stake in shares of Zevra Therapeutics in the 3rd quarter worth about $92,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Zevra Therapeutics in the 3rd quarter worth about $95,000. 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.