Eiger Biopharmaceuticals (EIGR) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Eiger Biopharmaceuticals (NASDAQ:EIGR) from a buy rating to a hold rating in a research note released 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 brokerages have also commented on EIGR. ValuEngine raised shares of Eiger Biopharmaceuticals from a buy rating to a strong-buy rating in a research report on Tuesday, October 2nd. Wedbush set a $53.00 price objective on shares of Eiger Biopharmaceuticals and gave the stock a buy rating in a research report on Monday, September 10th. Oppenheimer set a $26.00 price objective on shares of Eiger Biopharmaceuticals and gave the stock a buy rating in a research report on Thursday. Finally, LADENBURG THALM/SH SH set a $28.00 price objective on shares of Eiger Biopharmaceuticals and gave the stock a buy rating in a research report on Wednesday, October 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $29.71.
Eiger Biopharmaceuticals (NASDAQ:EIGR) last announced its quarterly earnings data on Friday, August 10th. The biotechnology company reported ($0.82) EPS for the quarter, hitting the consensus estimate of ($0.82). On average, analysts expect that Eiger Biopharmaceuticals will post -2.98 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. Jennison Associates LLC raised its position in Eiger Biopharmaceuticals by 93.3% in the second quarter. Jennison Associates LLC now owns 1,256,501 shares of the biotechnology company’s stock worth $15,329,000 after acquiring an additional 606,361 shares during the period. 683 Capital Management LLC raised its position in Eiger Biopharmaceuticals by 51.2% in the second quarter. 683 Capital Management LLC now owns 295,285 shares of the biotechnology company’s stock worth $3,602,000 after acquiring an additional 100,000 shares during the period. GMT Capital Corp bought a new stake in Eiger Biopharmaceuticals in the second quarter worth about $3,459,000. Renaissance Technologies LLC raised its position in Eiger Biopharmaceuticals by 40.4% in the second quarter. Renaissance Technologies LLC now owns 230,229 shares of the biotechnology company’s stock worth $2,809,000 after acquiring an additional 66,200 shares during the period. Finally, BlackRock Inc. raised its position in Eiger Biopharmaceuticals by 171.0% in the second quarter. BlackRock Inc. now owns 219,278 shares of the biotechnology company’s stock worth $2,675,000 after acquiring an additional 138,366 shares during the period. 69.64% of the stock is currently owned by institutional investors and hedge funds.
Eiger Biopharmaceuticals Company Profile
Eiger BioPharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of targeted therapies for rare diseases in the United States and internationally. The company's lead program is Lonafarnib, an orally bioavailable, small molecule, which is in Phase III clinical trial for treating hepatitis delta virus (HDV) infection.
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