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

Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Get Free Report) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,940,000 shares, a decline of 21.2% from the October 15th total of 5,000,000 shares. Currently, 7.5% of the company's stock are sold short. Based on an average daily trading volume, of 851,000 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analyst Weigh In

A number of research firms have commented on ZVRA. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Zevra Therapeutics in a report on Monday, September 30th. Roth Mkm lifted their price objective on shares of Zevra Therapeutics from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Maxim Group boosted their target price on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. William Blair upgraded shares of Zevra Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Finally, 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 objective for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $21.00.

Institutional Trading of Zevra Therapeutics

Several large investors have recently added to or reduced their stakes in ZVRA. FMR LLC boosted its holdings in shares of Zevra Therapeutics by 282,687.5% in the third quarter. FMR LLC now owns 2,313,202 shares of the company's stock valued at $16,054,000 after acquiring an additional 2,312,384 shares in the last quarter. Vanguard Group Inc. lifted its position in Zevra Therapeutics by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,704,006 shares of the company's stock worth $9,883,000 after purchasing an additional 58,866 shares during the period. State Street Corp boosted its stake in Zevra Therapeutics by 7.4% during the 3rd quarter. State Street Corp now owns 772,825 shares of the company's stock valued at $5,363,000 after purchasing an additional 52,966 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Zevra Therapeutics in the 3rd quarter worth $4,858,000. Finally, Vestal Point Capital LP acquired a new stake in shares of Zevra Therapeutics in the third quarter valued at $3,644,000. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Zevra Therapeutics Stock Performance

Shares of ZVRA stock traded down $0.41 during trading hours on Friday, reaching $8.62. The stock had a trading volume of 1,369,032 shares, compared to its average volume of 548,353. The firm has a market capitalization of $453.57 million, a PE ratio of -4.38 and a beta of 1.93. The firm has a 50-day simple moving average of $8.03 and a 200-day simple moving average of $6.49. Zevra Therapeutics has a twelve month low of $4.18 and a twelve month high of $9.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 2.00.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.01). Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 177.96%. The firm had revenue of $4.45 million during the quarter, compared to analyst estimates of $4.08 million. During the same quarter in the previous year, the business posted ($0.15) EPS. As a group, equities analysts forecast that Zevra Therapeutics will post -1.63 earnings per share for the current year.

Zevra Therapeutics Company Profile

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.