Fmr LLC Acquires 2,312,384 Shares of Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

FMR LLC grew its position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA - Free Report) by 282,687.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,313,202 shares of the company's stock after acquiring an additional 2,312,384 shares during the quarter. FMR LLC owned about 4.40% of Zevra Therapeutics worth $16,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of Zevra Therapeutics during the 2nd quarter worth $474,000. Simplify Asset Management Inc. acquired a new stake in shares of Zevra Therapeutics during the third quarter valued at $833,000. Price T Rowe Associates Inc. MD purchased a new stake in Zevra Therapeutics during the 1st quarter worth about $64,000. Vanguard Group Inc. raised its stake in Zevra Therapeutics by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,704,006 shares of the company's stock valued at $9,883,000 after purchasing an additional 58,866 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Zevra Therapeutics by 17.9% in the 2nd quarter. Rhumbline Advisers now owns 56,874 shares of the company's stock valued at $279,000 after purchasing an additional 8,619 shares in the last quarter. 35.03% of the stock is owned by hedge funds and other institutional investors.

Zevra Therapeutics Price Performance

Shares of ZVRA traded down $0.06 during trading hours on Wednesday, hitting $8.84. 274,783 shares of the company were exchanged, compared to its average volume of 543,366. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.88 and a quick ratio of 2.88. Zevra Therapeutics, Inc. has a one year low of $4.20 and a one year high of $9.76. The company has a market capitalization of $471.84 million, a PE ratio of -4.52 and a beta of 1.97. The firm has a fifty day simple moving average of $8.61 and a 200-day simple moving average of $7.04.

Zevra Therapeutics (NASDAQ:ZVRA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.25). Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 159.54%. The business had revenue of $3.70 million during the quarter, compared to analyst estimates of $5.04 million. During the same quarter in the prior year, the company earned ($0.40) EPS. As a group, sell-side analysts predict that Zevra Therapeutics, Inc. will post -1.96 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on ZVRA. Maxim Group upped their target price on Zevra Therapeutics from $18.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. JMP Securities assumed coverage on shares of Zevra Therapeutics in a research note on Tuesday, September 24th. They set an "outperform" rating and a $17.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Zevra Therapeutics in a research report on Wednesday, November 20th. Canaccord Genuity Group dropped 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 report on Thursday, November 14th. Finally, William Blair raised shares of Zevra Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zevra Therapeutics has a consensus rating of "Buy" and a consensus price target of $21.00.

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.