Eiger Biopharmaceuticals (NASDAQ:EIGR) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Eiger Biopharmaceuticals (NASDAQ:EIGR) from a hold rating to a buy rating in a report released on Monday, Zacks.com reports. The brokerage currently has $16.00 price target 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 research firms have also recently weighed in on EIGR. Wedbush reissued a buy rating and issued a $35.00 price objective on shares of Eiger Biopharmaceuticals in a research report on Monday, January 6th. Gilford Securities started coverage on Eiger Biopharmaceuticals in a research report on Monday, December 16th. They issued an average rating for the company. BidaskClub raised Eiger Biopharmaceuticals from a sell rating to a hold rating in a research report on Thursday, November 28th. LADENBURG THALM/SH SH restated a buy rating and issued a $28.00 target price on shares of Eiger Biopharmaceuticals in a research note on Monday, November 11th. Finally, ValuEngine lowered Eiger Biopharmaceuticals from a buy rating to a hold rating in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Eiger Biopharmaceuticals presently has a consensus rating of Buy and an average price target of $26.45.

EIGR opened at $14.46 on Monday. Eiger Biopharmaceuticals has a 1-year low of $9.38 and a 1-year high of $15.82. The company has a current ratio of 6.83, a quick ratio of 6.83 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $363.34 million, a price-to-earnings ratio of -3.79 and a beta of 1.20. The business has a 50 day moving average of $13.82 and a 200-day moving average of $11.59.

Eiger Biopharmaceuticals (NASDAQ:EIGR) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.01). Equities analysts predict that Eiger Biopharmaceuticals will post -2.48 EPS for the current year.

In other news, Director Thomas John Dietz bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was acquired at an average cost of $13.84 per share, for a total transaction of $55,360.00. Following the completion of the purchase, the director now owns 24,000 shares of the company’s stock, valued at approximately $332,160. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. raised its stake in shares of Eiger Biopharmaceuticals by 5.6% in the third quarter. Tocqueville Asset Management L.P. now owns 36,175 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 1,925 shares in the last quarter. Psagot Investment House Ltd. acquired a new position in Eiger Biopharmaceuticals during the third quarter worth $26,000. Bank of Montreal Can acquired a new position in Eiger Biopharmaceuticals during the second quarter worth $28,000. Lindbrook Capital LLC acquired a new position in Eiger Biopharmaceuticals during the third quarter worth $36,000. Finally, Tower Research Capital LLC TRC raised its stake in Eiger Biopharmaceuticals by 1,719.7% during the second quarter. Tower Research Capital LLC TRC now owns 4,895 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 4,626 shares in the last quarter. Institutional investors and hedge funds own 83.55% 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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