Simplify Asset Management Inc. Purchases New Holdings in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Simplify Asset Management Inc. purchased a new stake in Zevra Therapeutics, Inc. (NASDAQ:ZVRA) in the 3rd quarter, HoldingsChannel reports. The fund purchased 120,000 shares of the company’s stock, valued at approximately $833,000.

Other hedge funds have also made changes to their positions in the company. Hunter Associates Investment Management LLC acquired a new stake in shares of Zevra Therapeutics during the 3rd quarter valued at $92,000. International Assets Investment Management LLC raised its holdings in shares of Zevra Therapeutics by 594.0% during the 3rd quarter. International Assets Investment Management LLC now owns 6,940 shares of the company’s stock valued at $48,000 after purchasing an additional 5,940 shares in the last quarter. IFG Advisors LLC raised its holdings in shares of Zevra Therapeutics by 41.2% during the 3rd quarter. IFG Advisors LLC now owns 26,400 shares of the company’s stock valued at $183,000 after purchasing an additional 7,700 shares in the last quarter. City State Bank raised its holdings in Zevra Therapeutics by 14.1% in the 3rd quarter. City State Bank now owns 16,224 shares of the company’s stock worth $113,000 after acquiring an additional 2,000 shares during the period. Finally, SG Americas Securities LLC bought a new position in Zevra Therapeutics in the 3rd quarter worth $105,000. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Maxim Group raised their price target on shares of Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Zevra Therapeutics in a research report on Monday, September 30th. Cantor Fitzgerald restated an “overweight” rating on shares of Zevra Therapeutics in a research report on Friday, October 11th. Canaccord Genuity Group reduced their price target on shares of Zevra Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, William Blair upgraded shares of Zevra Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $21.00.

Zevra Therapeutics Price Performance

Shares of NASDAQ ZVRA traded down $0.17 during trading on Friday, reaching $8.86. The company had a trading volume of 134,712 shares, compared to its average volume of 542,768. Zevra Therapeutics, Inc. has a 52 week low of $4.18 and a 52 week high of $9.21. The stock has a market cap of $466.20 million, a PE ratio of -4.58 and a beta of 1.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.00 and a current ratio of 2.00. The business’s 50 day moving average price is $7.97 and its 200-day moving average price is $6.44.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its quarterly earnings results 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). The business had revenue of $4.45 million for the quarter, compared to the consensus estimate of $4.08 million. Zevra Therapeutics had a negative return on equity of 177.96% and a negative net margin of 342.63%. During the same period last year, the firm earned ($0.15) earnings per share. Analysts expect that Zevra Therapeutics, Inc. 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.