In a recent transaction disclosed in an SEC filing, Corey Michael Watton, a director at Zevra Therapeutics, Inc. (NASDAQ:ZVRA), purchased 500 shares of the company's common stock. The shares were acquired at a price of $7.9153 each, totaling approximately $3,957. Following this transaction, Watton holds a total of 1,500 shares directly. This purchase reflects Watton's continued investment in Zevra Therapeutics, a company known for its work in pharmaceutical preparations.
In other recent news, Zevra Therapeutics has seen significant developments. Following the FDA approval of its drug Miplyffa for the treatment of Niemann-Pick disease type C, several analyst firms have adjusted their outlook on the company. H.C. Wainwright, Maxim Group, and Roth/MKM upgraded their price targets for Zevra, maintaining buy ratings. JMP Securities initiated coverage on the company, assigning a Market Outperform rating.
In terms of financial performance, Zevra reported a net revenue of $4.4 million and a net loss of $19.9 million in its Q2 2024 earnings call. The company also holds a pro forma cash balance of $114 million, expected to sustain the company until it reaches a break-even point.
Zevra was also awarded a Priority Review Voucher (PRV) by the FDA, which could potentially provide a significant financial boost. The sale of such vouchers has recently surpassed $100 million. These are among the recent developments in Zevra Therapeutics' ongoing efforts in the rare disease sector.
InvestingPro Insights
Corey Michael Watton's recent purchase of Zevra Therapeutics (NASDAQ:ZVRA) shares aligns with the company's strong market performance. According to InvestingPro data, ZVRA has seen a remarkable 87.89% price total return over the past year, with a 75.68% increase in the last six months alone. This robust growth has positioned the stock near its 52-week high, trading at 94.53% of that peak.
Despite these positive indicators, investors should note that Zevra Therapeutics operates in a volatile environment. An InvestingPro Tip highlights that the company's stock price movements are quite volatile, which could explain why insiders like Watton might see buying opportunities during price fluctuations.
Another crucial aspect for potential investors to consider is the company's financial health. While Zevra has shown strong revenue growth of 43.21% in the last twelve months, it's important to note that the company is not currently profitable. This is reflected in its negative operating income margin of -315.77% for the same period.
For those seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Zevra Therapeutics, providing a deeper understanding of the company's financial position and market outlook.
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