Zacks Investment Research upgraded shares of Eiger Biopharmaceuticals (NASDAQ:EIGR) from a hold rating to a buy rating in a research report report published on Monday morning, Zacks.com reports. They currently have $11.00 target price on the biotechnology company’s stock.
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. “
Several other equities research analysts have also weighed in on EIGR. Wedbush restated an outperform rating and issued a $74.00 target price on shares of Tempur Sealy International in a report on Tuesday, June 18th. LADENBURG THALM/SH SH reaffirmed a buy rating and issued a $28.00 price target on shares of Eiger Biopharmaceuticals in a research report on Tuesday, June 18th. Citigroup reaffirmed a hold rating on shares of AbbVie in a research report on Wednesday, June 26th. KeyCorp reaffirmed an overweight rating and issued a $136.00 price target (up from $127.00) on shares of Coupa Software in a research report on Wednesday, June 26th. Finally, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $28.34.
EIGR opened at $11.25 on Monday. The stock has a 50 day moving average of $10.70. Eiger Biopharmaceuticals has a twelve month low of $8.40 and a twelve month high of $15.33. The company has a current ratio of 8.16, a quick ratio of 8.16 and a debt-to-equity ratio of 0.62. The firm has a market cap of $217.06 million, a price-to-earnings ratio of -2.95 and a beta of 1.07.
Eiger Biopharmaceuticals (NASDAQ:EIGR) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($0.90) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.95) by $0.05. On average, research analysts expect that Eiger Biopharmaceuticals will post -2.55 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 on Monday, April 22nd. The shares were bought at an average cost of $11.05 per share, with a total value of $55,250.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $165,750. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders acquired 7,250 shares of company stock worth $80,130. Company insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Eiger Biopharmaceuticals by 108.6% in the 4th quarter. BlackRock Inc. now owns 468,678 shares of the biotechnology company’s stock worth $4,761,000 after purchasing an additional 244,028 shares during the period. Northern Trust Corp lifted its position in shares of Eiger Biopharmaceuticals by 28.3% in the 4th quarter. Northern Trust Corp now owns 60,750 shares of the biotechnology company’s stock worth $617,000 after purchasing an additional 13,405 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Eiger Biopharmaceuticals by 127.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 36,750 shares of the biotechnology company’s stock worth $373,000 after purchasing an additional 20,625 shares during the period. Geode Capital Management LLC lifted its position in shares of Eiger Biopharmaceuticals by 34.9% in the 4th quarter. Geode Capital Management LLC now owns 104,792 shares of the biotechnology company’s stock worth $1,064,000 after purchasing an additional 27,136 shares during the period. Finally, Broadfin Capital LLC purchased a new stake in shares of Eiger Biopharmaceuticals in the 4th quarter worth approximately $1,456,000. Institutional investors and hedge funds own 80.03% 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.
Featured Story: Mutual Funds
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eiger Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eiger Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.