Rubric Capital Management LP Makes New Investment in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

Rubric Capital Management LP acquired a new position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the company’s stock, valued at approximately $139,000.

Several other large investors have also modified their holdings of the company. FMR LLC grew its position 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 purchasing an additional 2,312,384 shares during the last quarter. Propel Bio Management LLC acquired a new stake in shares of Zevra Therapeutics in the third quarter worth $1,248,000. Simplify Asset Management Inc. bought a new position in Zevra Therapeutics during the third quarter worth $833,000. Sanctuary Advisors LLC acquired a new position in Zevra Therapeutics during the 2nd quarter valued at $474,000. Finally, Vanguard Group Inc. boosted its holdings 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 period. 35.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ZVRA shares. Maxim Group lifted their price objective on Zevra Therapeutics from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Guggenheim started coverage on shares of Zevra Therapeutics in a report on Monday, October 7th. They set a “buy” rating and a $20.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Zevra Therapeutics in a research note on Friday, October 11th. Canaccord Genuity Group cut 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, November 14th. Finally, Roth Mkm upped their price objective on Zevra Therapeutics from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zevra Therapeutics has a consensus rating of “Buy” and an average price target of $21.00.

Zevra Therapeutics Stock Performance

NASDAQ ZVRA opened at $9.43 on Wednesday. Zevra Therapeutics, Inc. has a 1-year low of $4.20 and a 1-year high of $9.76. The company has a 50 day moving average of $8.26 and a 200-day moving average of $6.72. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.84. The firm has a market cap of $503.37 million, a price-to-earnings ratio of -4.79 and a beta of 1.93.

Zevra Therapeutics (NASDAQ:ZVRA) last released its quarterly 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). The business had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.04 million. Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 159.54%. During the same period in the prior year, the business earned ($0.40) earnings per share. On average, equities analysts forecast that Zevra Therapeutics, Inc. will post -1.96 earnings per share for the current fiscal year.

Zevra Therapeutics 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.