Zacks Investment Research Downgrades Eiger BioPharmaceuticals Inc. (EIGR) to Sell
Eiger BioPharmaceuticals Inc. (NASDAQ:EIGR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
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 research firms also recently weighed in on EIGR. Jefferies Group reiterated a “buy” rating and issued a $33.00 target price on shares of Eiger BioPharmaceuticals in a research note on Thursday, October 20th. Wedbush reiterated an “outperform” rating and issued a $36.00 target price (up previously from $34.00) on shares of Eiger BioPharmaceuticals in a research note on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $34.00.
Eiger BioPharmaceuticals (NASDAQ:EIGR) opened at 13.50 on Thursday. Eiger BioPharmaceuticals has a 52 week low of $10.71 and a 52 week high of $28.35. The company has a 50-day moving average of $12.67 and a 200 day moving average of $17.15. The company’s market cap is $112.81 million.
In other news, insider James P. Shaffer acquired 3,125 shares of Eiger BioPharmaceuticals stock in a transaction that occurred on Thursday, August 18th. The stock was bought at an average price of $15.70 per share, with a total value of $49,062.50. Following the completion of the purchase, the insider now owns 5,620 shares in the company, valued at $88,234. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ventures Fund Vi L.P. Vivo acquired 187,500 shares of Eiger BioPharmaceuticals stock in a transaction that occurred on Thursday, August 18th. The shares were purchased 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. Corporate insiders own 27.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of EIGR. Vivo Capital LLC purchased a new position in shares of Eiger BioPharmaceuticals during the first quarter valued at approximately $26,825,000. Bank of New York Mellon Corp purchased a new position in shares of Eiger BioPharmaceuticals during the second quarter valued at approximately $214,000. Lombard Odier Asset Management USA Corp boosted its position in shares of Eiger BioPharmaceuticals by 2.8% in the second quarter. Lombard Odier Asset Management USA Corp now owns 143,638 shares of the company’s stock valued at $2,847,000 after buying an additional 3,950 shares in the last quarter. California State Teachers Retirement System purchased a new position in shares of Eiger BioPharmaceuticals during the second quarter valued at approximately $144,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Eiger BioPharmaceuticals during the first quarter valued at approximately $251,000. 37.82% of the stock is 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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