Eiger Biopharmaceuticals (NASDAQ:EIGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The firm currently has a $15.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 18.30% from the company’s current price.
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 analysts have also recently issued reports about the stock. Wedbush restated a “buy” rating and issued a $35.00 price target on shares of Eiger Biopharmaceuticals in a report on Monday, January 6th. LADENBURG THALM/SH SH raised their price target on shares of Eiger Biopharmaceuticals from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Gilford Securities began coverage on shares of Eiger Biopharmaceuticals in a report on Monday, December 16th. They issued an “average” rating on the stock. BidaskClub upgraded shares of Eiger Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, ValuEngine upgraded shares of Eiger Biopharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.74.
NASDAQ:EIGR opened at $12.68 on Monday. Eiger Biopharmaceuticals has a fifty-two week low of $9.38 and a fifty-two week high of $15.82. The stock has a market capitalization of $325.78 million, a P/E ratio of -3.81 and a beta of 1.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.83 and a current ratio of 6.83. The company’s 50-day simple moving average is $13.96 and its 200-day simple moving average is $11.77.
Eiger Biopharmaceuticals (NASDAQ:EIGR) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.01). On average, research analysts forecast that Eiger Biopharmaceuticals will post -2.48 EPS for the current year.
In related news, Director Thomas John Dietz bought 4,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of $13.84 per share, for a total transaction of $55,360.00. Following the purchase, the director now directly owns 24,000 shares of the company’s stock, valued at $332,160. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in EIGR. Psagot Investment House Ltd. acquired a new stake in Eiger Biopharmaceuticals in the 3rd quarter worth approximately $26,000. Bank of Montreal Can acquired a new stake in Eiger Biopharmaceuticals in the 2nd quarter worth approximately $28,000. Lindbrook Capital LLC acquired a new stake in Eiger Biopharmaceuticals in the 3rd quarter worth approximately $36,000. Tower Research Capital LLC TRC boosted its stake in Eiger Biopharmaceuticals by 1,719.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,895 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 4,626 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Eiger Biopharmaceuticals in the 3rd quarter worth approximately $94,000. Institutional investors own 83.68% of the company’s stock.
Eiger Biopharmaceuticals Company Profile
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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