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In a recent transaction filed with the Securities and Exchange Commission, John B. Bode, a director at Zevra Therapeutics, Inc. (NASDAQ:ZVRA), acquired 10,000 shares of the company’s common stock. According to InvestingPro data, this insider purchase comes as analysts maintain a strong buy consensus with price targets ranging from $17 to $25 per share. The shares were purchased on March 19 at a weighted average price of $7.9624 per share, amounting to a total transaction value of $79,624.
The acquisition increased Bode’s direct holdings in the company to 40,000 shares. The shares were bought in multiple transactions at prices ranging from $7.91 to $8.00, according to the filing.
In other recent news, Zevra Therapeutics reported its fourth-quarter 2024 financial results, revealing a net loss of $35.7 million, or $0.67 per share, which was below analyst expectations of a $0.40 loss per share. However, the company generated $12 million in revenue, surpassing the forecasted $8.52 million, largely due to strong U.S. sales of its product Miplyffa. Analysts from Canaccord Genuity and Cantor Fitzgerald have expressed confidence in Zevra’s prospects, maintaining positive ratings and price targets of $25.00, with Canaccord raising its target from a previous $23.00. Meanwhile, JMP Securities increased its price target for Zevra to $18.00, up from $17.00, following the company’s announcement of its financial results, which exceeded expectations.
Zevra Therapeutics is also making strides in transitioning patients from its Expanded Access Program to its commercial drug, with all active patients and 109 total prescription enrollment forms converted by the end of the year. The firm is actively working to support the identification and diagnosis of patients with Niemann-Pick disease type C, a rare genetic disorder, aiming to increase diagnoses in the United States. Looking ahead, the company plans to extend its cash runway into 2029, supported by anticipated non-dilutive capital from a priority review voucher sale. Additionally, Zevra is exploring strategic options for its treatment KP-1077, with a potential market introduction timeline revised to 2028 for idiopathic hypersomnia and 2029 for narcolepsy.
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