Eiger Biopharmaceuticals (NASDAQ:EIGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Eiger BioPharmaceuticals, Inc. is a biopharmaceutical company which develops and manufactures drugs and therapies for the treatment of orphan diseases. Eiger BioPharmaceuticals, Inc., formerly known as Celladon Corporation, is based in Palo Alto, California. “
Other research analysts also recently issued research reports about the company. ValuEngine upgraded Eiger Biopharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. BTIG Research raised their target price on Eiger Biopharmaceuticals from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, December 19th. Wedbush restated a “buy” rating and issued a $43.00 target price on shares of Eiger Biopharmaceuticals in a research note on Tuesday, February 19th. BidaskClub downgraded Eiger Biopharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 14th. Finally, Robert W. Baird initiated coverage on Eiger Biopharmaceuticals in a research note on Monday, January 28th. They issued an “outperform” rating and a $47.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $31.75.
NASDAQ EIGR traded up $0.70 during trading hours on Monday, hitting $13.99. The company had a trading volume of 78,136 shares, compared to its average volume of 96,130. Eiger Biopharmaceuticals has a 52 week low of $8.20 and a 52 week high of $18.00. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.56. The company has a market cap of $253.77 million, a P/E ratio of -2.88 and a beta of 1.48.
Eiger Biopharmaceuticals (NASDAQ:EIGR) last issued its earnings results on Thursday, March 14th. The biotechnology company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.10). Equities research analysts anticipate that Eiger Biopharmaceuticals will post -3.46 EPS for the current year.
In other Eiger Biopharmaceuticals news, Director Thomas John Dietz purchased 5,000 shares of the company’s stock in a transaction dated Thursday, December 20th. The stock was purchased at an average price of $9.98 per share, for a total transaction of $49,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $99,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. RA Capital Management LLC bought a new stake in shares of Eiger Biopharmaceuticals during the 4th quarter valued at about $24,541,000. 683 Capital Management LLC boosted its position in shares of Eiger Biopharmaceuticals by 155.1% during the 4th quarter. 683 Capital Management LLC now owns 1,610,529 shares of the biotechnology company’s stock valued at $16,363,000 after acquiring an additional 979,296 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Eiger Biopharmaceuticals by 0.6% during the 3rd quarter. Jennison Associates LLC now owns 1,263,978 shares of the biotechnology company’s stock valued at $15,168,000 after acquiring an additional 7,477 shares during the last quarter. BlackRock Inc. boosted its position in shares of Eiger Biopharmaceuticals by 108.6% during the 4th quarter. BlackRock Inc. now owns 468,678 shares of the biotechnology company’s stock valued at $4,761,000 after acquiring an additional 244,028 shares during the last quarter. Finally, Vanguard Group Inc boosted its position in shares of Eiger Biopharmaceuticals by 4.9% during the 3rd quarter. Vanguard Group Inc now owns 450,456 shares of the biotechnology company’s stock valued at $5,406,000 after acquiring an additional 21,000 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.
About Eiger Biopharmaceuticals
Eiger BioPharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of targeted therapies for rare diseases in the United States and internationally. The company's lead program is Lonafarnib, an orally bioavailable, small molecule, which is in Phase III clinical trial for treating hepatitis delta virus (HDV) infection.
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