Eiger Biopharmaceuticals (NASDAQ:EIGR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Eiger Biopharmaceuticals (NASDAQ:EIGR) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. The firm currently has $11.00 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. “

Several other brokerages also recently weighed in on EIGR. ValuEngine upgraded shares of Eiger Biopharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. Citigroup began coverage on shares of Eiger Biopharmaceuticals in a research note on Wednesday, June 26th. They set a buy rating and a $22.00 target price for the company. LADENBURG THALM/SH SH reiterated a buy rating and set a $28.00 target price on shares of Eiger Biopharmaceuticals in a research note on Monday. KeyCorp started coverage on shares of Eiger Biopharmaceuticals in a research report on Wednesday, June 26th. They issued an overweight rating and a $10.72 price objective for the company. Finally, Wedbush reiterated an outperform rating and set a $35.00 price target on shares of Eiger Biopharmaceuticals in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $28.34.

Shares of EIGR opened at $9.77 on Tuesday. Eiger Biopharmaceuticals has a fifty-two week low of $8.40 and a fifty-two week high of $15.33. The company has a market capitalization of $245.68 million, a price-to-earnings ratio of -2.56 and a beta of 1.01. The firm has a 50-day simple moving average of $10.71 and a 200-day simple moving average of $11.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 8.16 and a current ratio of 9.64.

Eiger Biopharmaceuticals (NASDAQ:EIGR) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.02). Equities research analysts forecast that Eiger Biopharmaceuticals will post -2.49 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of EIGR. BlackRock Inc. increased its stake in shares of Eiger Biopharmaceuticals by 281.9% during the 2nd quarter. BlackRock Inc. now owns 1,729,161 shares of the biotechnology company’s stock worth $18,330,000 after purchasing an additional 1,276,408 shares in the last quarter. Cormorant Asset Management LP purchased a new position in shares of Eiger Biopharmaceuticals during the 2nd quarter worth approximately $12,190,000. Farallon Capital Management LLC purchased a new position in shares of Eiger Biopharmaceuticals during the 2nd quarter worth approximately $10,600,000. Vanguard Group Inc. increased its stake in shares of Eiger Biopharmaceuticals by 39.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,070,914 shares of the biotechnology company’s stock worth $11,352,000 after purchasing an additional 300,279 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Eiger Biopharmaceuticals during the 2nd quarter worth approximately $3,168,000. 80.68% of the stock is owned by institutional investors and hedge funds.

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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