Wedbush Reiterates Outperform Rating for Eiger BioPharmaceuticals Inc. (EIGR)
Eiger BioPharmaceuticals Inc. (NASDAQ:EIGR)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research note issued on Tuesday. They presently have a $36.00 target price on the stock, up from their previous target price of $34.00. Wedbush’s price target would indicate a potential upside of 202.52% from the company’s current price.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Eiger BioPharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 18th. Jefferies Group restated a “buy” rating and issued a $33.00 target price on shares of Eiger BioPharmaceuticals in a report on Thursday, October 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Eiger BioPharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $34.00.
Shares of Eiger BioPharmaceuticals (NASDAQ:EIGR) opened at 11.95 on Tuesday. Eiger BioPharmaceuticals has a 52-week low of $10.71 and a 52-week high of $28.35. The company’s market capitalization is $84.89 million. The stock’s 50 day moving average price is $12.71 and its 200 day moving average price is $17.23.
Eiger BioPharmaceuticals (NASDAQ:EIGR) last issued its quarterly earnings results on Wednesday, August 10th. The company reported ($1.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.17) by $0.70. On average, equities research analysts forecast that Eiger BioPharmaceuticals will post ($8.81) earnings per share for the current fiscal year.
In other news, major shareholder Ventures Fund Vi L.P. Vivo bought 187,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were purchased at an average price of $16.00 per share, with a total value of $3,000,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider James P. Shaffer bought 3,125 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were purchased at an average cost of $15.70 per share, for a total transaction of $49,062.50. Following the purchase, the insider now owns 5,620 shares in the company, valued at approximately $88,234. The disclosure for this purchase can be found here. Corporate insiders own 27.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Teachers Advisors Inc. bought a new stake in Eiger BioPharmaceuticals during the second quarter worth about $108,000. California State Teachers Retirement System raised its stake in Eiger BioPharmaceuticals by 20.7% in the third quarter. California State Teachers Retirement System now owns 8,762 shares of the company’s stock worth $117,000 after buying an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Eiger BioPharmaceuticals by 14.3% in the third quarter. Bank of New York Mellon Corp now owns 12,319 shares of the company’s stock worth $165,000 after buying an additional 1,541 shares in the last quarter. BlackRock Investment Management LLC raised its stake in Eiger BioPharmaceuticals by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 12,459 shares of the company’s stock worth $167,000 after buying an additional 104 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Eiger BioPharmaceuticals during the third quarter worth about $169,000. 37.82% of the stock is currently owned by institutional investors.
About Eiger BioPharmaceuticals
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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