Eiger BioPharmaceuticals, Inc. (EIGR) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

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. “

Other analysts have also recently issued reports about the stock. Oppenheimer Holdings, Inc. set a $34.00 target price on shares of Eiger BioPharmaceuticals and gave the company a buy rating in a report on Saturday, April 22nd. BTIG Research assumed coverage on shares of Eiger BioPharmaceuticals in a report on Friday, July 14th. They set a buy rating and a $32.00 target price for the company. Jefferies Group LLC reaffirmed a buy rating and set a $27.00 target price (down from $28.00) on shares of Eiger BioPharmaceuticals in a report on Monday, May 15th. Finally, Wedbush reaffirmed an outperform rating and set a $34.00 target price (up from $28.00) on shares of Eiger BioPharmaceuticals in a report on Wednesday, June 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Eiger BioPharmaceuticals currently has a consensus rating of Buy and a consensus target price of $28.46.

Eiger BioPharmaceuticals (EIGR) traded up 3.21% on Tuesday, reaching $8.05. 28,317 shares of the company traded hands. The stock’s market capitalization is $67.35 million. The stock’s 50-day moving average is $8.31 and its 200-day moving average is $9.07. Eiger BioPharmaceuticals has a 1-year low of $6.10 and a 1-year high of $18.00.

Eiger BioPharmaceuticals (NASDAQ:EIGR) last announced its earnings results on Friday, May 12th. The biotechnology company reported ($1.34) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.35) by $0.01. Equities research analysts expect that Eiger BioPharmaceuticals will post ($5.40) EPS for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in shares of Eiger BioPharmaceuticals by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 13,696 shares of the biotechnology company’s stock worth $157,000 after buying an additional 614 shares in the last quarter. Hikari Power Ltd acquired a new stake in shares of Eiger BioPharmaceuticals during the first quarter worth approximately $118,000. Finally, LMR Partners LLP acquired a new stake in shares of Eiger BioPharmaceuticals during the second quarter worth approximately $116,000. 68.86% of the stock is owned by institutional investors and hedge funds.

Eiger BioPharmaceuticals Company Profile

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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Analyst Recommendations for Eiger BioPharmaceuticals (NASDAQ:EIGR)

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