Wedbush Brokers Lower Earnings Estimates for Eiger BioPharmaceuticals Inc. (EIGR)
Eiger BioPharmaceuticals Inc. (NASDAQ:EIGR) – Wedbush decreased their FY2016 EPS estimates for shares of Eiger BioPharmaceuticals in a report issued on Tuesday. Wedbush analyst H. Behanna now anticipates that the brokerage will earn ($7.51) per share for the year, down from their previous forecast of ($6.54). Wedbush currently has a “Outperform” rating and a $36.00 target price on the stock. Wedbush also issued estimates for Eiger BioPharmaceuticals’ Q4 2016 earnings at ($1.29) EPS, Q1 2017 earnings at ($1.37) EPS, Q2 2017 earnings at ($1.00) EPS, Q3 2017 earnings at ($1.08) EPS, Q4 2017 earnings at ($1.12) EPS, FY2017 earnings at ($4.58) EPS, FY2018 earnings at ($4.74) EPS, FY2019 earnings at ($4.08) EPS and FY2020 earnings at ($5.61) EPS.
Eiger BioPharmaceuticals (NASDAQ:EIGR) last announced its earnings results 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.
Several other equities research analysts have also recently issued reports on EIGR. Zacks Investment Research upgraded shares of Eiger BioPharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Jefferies Group reiterated a “buy” rating and issued a $33.00 price target on shares of Eiger BioPharmaceuticals in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Eiger BioPharmaceuticals presently has a consensus rating of “Buy” and an average target price of $34.00.
Eiger BioPharmaceuticals (NASDAQ:EIGR) opened at 13.50 on Thursday. The stock’s market capitalization is $112.81 million. Eiger BioPharmaceuticals has a 12 month low of $10.71 and a 12 month high of $28.35. The company has a 50-day moving average of $12.67 and a 200 day moving average of $17.15.
In other news, insider James P. Shaffer acquired 3,125 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 5,620 shares of the company’s stock, valued at $88,234. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ventures Fund Vi L.P. Vivo acquired 187,500 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $3,000,000.00. The disclosure for this purchase can be found here. 27.20% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. Teachers Advisors Inc. purchased a new stake in shares of Eiger BioPharmaceuticals during the second quarter valued at approximately $108,000. California State Teachers Retirement System increased its stake in shares of Eiger BioPharmaceuticals by 20.7% in the third quarter. California State Teachers Retirement System now owns 8,762 shares of the company’s stock valued at $117,000 after buying an additional 1,500 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 valued at $165,000 after buying an additional 1,541 shares during the last quarter. BlackRock Investment Management LLC increased its stake in shares of Eiger BioPharmaceuticals by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 12,459 shares of the company’s stock valued at $167,000 after buying an additional 104 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Eiger BioPharmaceuticals during the third quarter valued at approximately $169,000. Hedge funds and other institutional investors own 37.82% of the company’s stock.
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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