Eiger BioPharmaceuticals Inc. (EIGR) to Post Q3 2016 Earnings of ($1.06) Per Share, Wedbush Forecasts
Eiger BioPharmaceuticals Inc. (NASDAQ:EIGR) – Research analysts at Wedbush raised their Q3 2016 earnings per share estimates for shares of Eiger BioPharmaceuticals in a research note issued to investors on Wednesday. Wedbush analyst H. Behanna now anticipates that the firm will post earnings per share of ($1.06) for the quarter, up from their previous estimate of ($1.15). Wedbush has a “Outperform” rating and a $36.00 price target on the stock. Wedbush also issued estimates for Eiger BioPharmaceuticals’ Q4 2016 earnings at ($1.00) EPS, FY2016 earnings at ($6.54) EPS, Q1 2017 earnings at ($1.06) EPS, Q2 2017 earnings at ($0.77) EPS, Q3 2017 earnings at ($0.82) EPS, Q4 2017 earnings at ($0.86) EPS, FY2017 earnings at ($3.50) EPS, FY2018 earnings at ($3.54) EPS, FY2019 earnings at ($3.10) EPS and FY2020 earnings at ($4.55) EPS.
Several other brokerages also recently commented on EIGR. Zacks Investment Research downgraded Eiger BioPharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, June 13th. Oppenheimer Holdings Inc. assumed coverage on Eiger BioPharmaceuticals in a research note on Tuesday, July 5th. They set an “outperform” rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Eiger BioPharmaceuticals has an average rating of “Buy” and a consensus price target of $34.50.
Eiger BioPharmaceuticals (NASDAQ:EIGR) opened at 13.28 on Monday. Eiger BioPharmaceuticals has a 1-year low of $12.90 and a 1-year high of $28.35. The firm’s market capitalization is $94.34 million. The firm’s 50-day moving average price is $14.85 and its 200 day moving average price is $18.42.
Eiger BioPharmaceuticals (NASDAQ:EIGR) last released its quarterly earnings data on Wednesday, August 10th. The company reported ($1.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by $0.70.
Institutional investors have recently made changes to their positions in the stock. Teachers Advisors Inc. bought a new position in shares of Eiger BioPharmaceuticals during the second quarter valued at $108,000. California State Teachers Retirement System bought a new position in shares of Eiger BioPharmaceuticals during the second quarter valued at $144,000. Bank of New York Mellon Corp bought a new position in shares of Eiger BioPharmaceuticals during the second quarter valued at $214,000. BlackRock Investment Management LLC boosted its position in shares of Eiger BioPharmaceuticals by 4,942.9% in the second quarter. BlackRock Investment Management LLC now owns 12,355 shares of the company’s stock valued at $245,000 after buying an additional 12,110 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Eiger BioPharmaceuticals during the first quarter valued at $251,000. 37.83% of the stock is owned by hedge funds and other institutional investors.
In related news, insider James P. Shaffer acquired 3,125 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was purchased at an average cost of $15.70 per share, with a total value of $49,062.50. Following the acquisition, the insider now directly owns 5,620 shares of the company’s stock, valued at $88,234. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ventures Fund Vi L.P. Vivo acquired 187,500 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was bought at an average cost of $16.00 per share, with a total value of $3,000,000.00. The disclosure for this purchase can be found here. 27.20% of the stock is owned by corporate insiders.
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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