Eiger BioPharmaceuticals Inc. (NASDAQ:EIGR) shares dropped 4.1% during trading on Friday . The company traded as low as $16.00 and last traded at $16.02, with a volume of 102,701 shares trading hands. The stock had previously closed at $16.70.

EIGR has been the subject of a number of recent research reports. Oppenheimer Holdings Inc. initiated coverage on Eiger BioPharmaceuticals in a research note on Tuesday, July 5th. They issued an “outperform” rating and a $34.00 target price for the company. Zacks Investment Research upgraded Eiger BioPharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Wedbush restated an “outperform” rating and issued a $36.00 target price on shares of Eiger BioPharmaceuticals in a research note on Thursday, August 11th. Finally, Jefferies Group restated a “buy” rating on shares of Eiger BioPharmaceuticals in a research note on Monday, May 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $34.50.

The stock has a 50-day moving average of $18.50 and a 200-day moving average of $18.52. The company’s market capitalization is $113.81 million.

Eiger BioPharmaceuticals (NASDAQ:EIGR) last posted its quarterly earnings results on Wednesday, August 10th. The company reported ($1.87) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.17) by $0.70. Equities research analysts anticipate that Eiger BioPharmaceuticals Inc. will post ($8.81) EPS for the current fiscal year.

In other Eiger BioPharmaceuticals news, insider James P. Shaffer bought 1,250 shares of Eiger BioPharmaceuticals stock in a transaction dated Monday, June 13th. The stock was bought at an average cost of $22.17 per share, for a total transaction of $27,712.50. Following the purchase, the insider now owns 1,975 shares of the company’s stock, valued at approximately $43,785.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James P. Shaffer bought 3,125 shares of Eiger BioPharmaceuticals stock in a transaction dated Thursday, August 18th. The shares were acquired at an average price of $15.70 per share, with a total value of $49,062.50. Following the completion of the purchase, the insider now directly owns 5,620 shares in the company, valued at approximately $88,234. The disclosure for this purchase can be found here.

Eiger BioPharmaceuticals, Inc, formerly Celladon Corporation, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of products for the treatment of orphan diseases. Its pipeline includes Sarasar (lonafarnib) for hepatitis delta virus (HDV), exendin (9-39) for severe hypoglycemia, and Bestatin (ubenimex) for pulmonary arterial hypertension (PAH) and lymphedema.

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