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 research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $12.00 price objective 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. “
A number of other research analysts have also issued reports on EIGR. Wedbush reiterated an outperform rating and set a $74.00 target price on shares of Tempur Sealy International in a research report on Tuesday, June 18th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Citigroup reiterated a hold rating on shares of AbbVie in a research report on Wednesday, June 26th. LADENBURG THALM/SH SH reiterated a buy rating and set a $28.00 target price on shares of Eiger Biopharmaceuticals in a research report on Tuesday, June 18th. Finally, KeyCorp reiterated an overweight rating and set a $136.00 target price (up previously from $127.00) on shares of Coupa Software in a research report on Wednesday, June 26th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $28.47.
Eiger Biopharmaceuticals (NASDAQ:EIGR) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.05. On average, analysts forecast that Eiger Biopharmaceuticals will post -2.55 earnings per share for the current fiscal year.
In other news, Director Thomas John Dietz acquired 5,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $11.05 per share, for a total transaction of $55,250.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $165,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 7,250 shares of company stock worth $80,130 in the last 90 days. 5.80% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC purchased a new position in Eiger Biopharmaceuticals in the 4th quarter valued at $114,000. Wedbush Securities Inc. purchased a new position in shares of Eiger Biopharmaceuticals during the 1st quarter worth $179,000. Millennium Management LLC purchased a new position in shares of Eiger Biopharmaceuticals during the 4th quarter worth $255,000. Bank of America Corp DE raised its holdings in shares of Eiger Biopharmaceuticals by 49.6% during the 4th quarter. Bank of America Corp DE now owns 25,884 shares of the biotechnology company’s stock worth $263,000 after acquiring an additional 8,581 shares during the period. Finally, Sanders Morris Harris LLC purchased a new position in shares of Eiger Biopharmaceuticals during the 2nd quarter worth $344,000. Institutional investors 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.
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