AIGH Capital Management LLC Invests $6.58 Million in Zevra Therapeutics, Inc. (NASDAQ:ZVRA)

AIGH Capital Management LLC acquired a new position in Zevra Therapeutics, Inc. (NASDAQ:ZVRA) during the 4th quarter, HoldingsChannel reports. The fund acquired 788,614 shares of the company’s stock, valued at approximately $6,577,000. Zevra Therapeutics comprises 2.1% of AIGH Capital Management LLC’s investment portfolio, making the stock its 18th largest position.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Zevra Therapeutics by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 2,824,212 shares of the company’s stock worth $23,554,000 after acquiring an additional 68,151 shares during the period. FMR LLC boosted its stake in shares of Zevra Therapeutics by 282,687.5% during 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 period. Geode Capital Management LLC increased its holdings in Zevra Therapeutics by 14.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,043,864 shares of the company’s stock valued at $7,246,000 after purchasing an additional 129,600 shares during the period. State Street Corp lifted its position in shares of Zevra Therapeutics by 7.4% in the 3rd quarter. State Street Corp now owns 772,825 shares of the company’s stock worth $5,363,000 after purchasing an additional 52,966 shares during the period. Finally, Retirement Planning Co of New England Inc. grew its stake in Zevra Therapeutics by 3.1% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 514,832 shares of the company’s stock worth $4,294,000 after purchasing an additional 15,327 shares during the period. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ZVRA. Guggenheim boosted their price target on Zevra Therapeutics from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, March 13th. Canaccord Genuity Group upped their target price on shares of Zevra Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, March 13th. Citigroup reiterated an “outperform” rating on shares of Zevra Therapeutics in a research note on Wednesday, March 12th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Zevra Therapeutics in a research report on Thursday, March 13th. Finally, JMP Securities set a $18.00 price objective on Zevra Therapeutics in a research note on Wednesday, March 12th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zevra Therapeutics has a consensus rating of “Buy” and an average target price of $22.29.

Zevra Therapeutics Stock Down 1.4 %

Shares of ZVRA opened at $7.85 on Friday. Zevra Therapeutics, Inc. has a 12 month low of $4.20 and a 12 month high of $9.76. The stock’s 50 day moving average is $7.90 and its two-hundred day moving average is $8.20. 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 $424.81 million, a P/E ratio of -3.98 and a beta of 1.98.

Zevra Therapeutics (NASDAQ:ZVRA) last posted its earnings results on Tuesday, March 11th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.28). Zevra Therapeutics had a negative net margin of 342.63% and a negative return on equity of 159.54%. The business had revenue of $12.00 million during the quarter, compared to analysts’ expectations of $8.93 million. Analysts predict that Zevra Therapeutics, Inc. will post -1.95 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Neil F. Mcfarlane sold 61,273 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.86, for a total value of $481,605.78. Following the completion of the sale, the chief executive officer now owns 222,060 shares in the company, valued at $1,745,391.60. This trade represents a 21.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Bode acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $7.96 per share, for a total transaction of $79,600.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $318,400. This represents a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 85,773 shares of company stock worth $674,176. 2.40% of the stock is currently owned by corporate insiders.

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.