Eiger Biopharmaceuticals (EIGR) Cut to “Buy” at ValuEngine

ValuEngine downgraded shares of Eiger Biopharmaceuticals (NASDAQ:EIGR) from a strong-buy rating to a buy rating in a research report report published on Saturday morning, ValuEngine reports.

EIGR has been the subject of a number of other reports. Zacks Investment Research downgraded Eiger Biopharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, May 1st. Robert W. Baird began coverage on Eiger Biopharmaceuticals in a research note on Monday, January 28th. They issued an outperform rating and a $47.00 price target for the company. Wedbush decreased their price target on Eiger Biopharmaceuticals from $43.00 to $35.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. Finally, BidaskClub upgraded Eiger Biopharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $31.29.

Shares of Eiger Biopharmaceuticals stock traded up $0.10 during trading hours on Friday, hitting $11.11. 109,651 shares of the company’s stock traded hands, compared to its average volume of 219,454. The company has a debt-to-equity ratio of 0.62, a quick ratio of 10.16 and a current ratio of 8.16. Eiger Biopharmaceuticals has a twelve month low of $8.40 and a twelve month high of $18.00.

Eiger Biopharmaceuticals (NASDAQ:EIGR) last posted its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.90) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.05. As a group, analysts predict that Eiger Biopharmaceuticals will post -2.75 EPS for the current fiscal year.

In other Eiger Biopharmaceuticals news, Director Thomas John Dietz purchased 5,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were bought at an average price of $11.05 per share, with a total value of $55,250.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at approximately $165,750. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have bought 7,250 shares of company stock worth $80,130. Corporate insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EIGR. BlueCrest Capital Management Ltd raised its holdings in Eiger Biopharmaceuticals by 34.9% in the first quarter. BlueCrest Capital Management Ltd now owns 21,250 shares of the biotechnology company’s stock worth $297,000 after purchasing an additional 5,496 shares during the period. Morgan Stanley raised its holdings in Eiger Biopharmaceuticals by 17.3% in the first quarter. Morgan Stanley now owns 62,026 shares of the biotechnology company’s stock worth $867,000 after purchasing an additional 9,146 shares during the period. Jefferies Group LLC acquired a new stake in Eiger Biopharmaceuticals in the first quarter worth $164,000. ExodusPoint Capital Management LP raised its holdings in Eiger Biopharmaceuticals by 169.6% in the first quarter. ExodusPoint Capital Management LP now owns 38,826 shares of the biotechnology company’s stock worth $543,000 after purchasing an additional 24,426 shares during the period. Finally, Broadfin Capital LLC raised its holdings in Eiger Biopharmaceuticals by 34.9% in the first quarter. Broadfin Capital LLC now owns 193,300 shares of the biotechnology company’s stock worth $2,702,000 after purchasing an additional 50,000 shares during the period. 78.50% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Eiger Biopharmaceuticals (NASDAQ:EIGR)

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