Eiger Biopharmaceuticals (NASDAQ:EIGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, Zacks.com reports. The firm presently has a $16.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 16.03% from the stock’s previous close.

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. “

A number of other brokerages also recently weighed in on EIGR. ValuEngine upgraded shares of Eiger Biopharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. BidaskClub downgraded shares of Eiger Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Finally, Wedbush reiterated a “buy” rating and issued a $43.00 price target on shares of Eiger Biopharmaceuticals in a research report on Tuesday, February 19th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Eiger Biopharmaceuticals presently has a consensus rating of “Buy” and an average price target of $31.88.

Shares of NASDAQ EIGR traded down $0.43 during mid-day trading on Monday, hitting $13.79. The company’s stock had a trading volume of 59,547 shares, compared to its average volume of 68,273. The firm has a market capitalization of $265.60 million, a PE ratio of -3.61 and a beta of 1.48. The company has a current ratio of 10.16, a quick ratio of 10.16 and a debt-to-equity ratio of 0.38. Eiger Biopharmaceuticals has a one year low of $8.20 and a one year high of $18.00.

Eiger Biopharmaceuticals (NASDAQ:EIGR) last announced its quarterly earnings results on Thursday, March 14th. The biotechnology company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.10). As a group, equities research analysts anticipate that Eiger Biopharmaceuticals will post -2.82 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in shares of Eiger Biopharmaceuticals in the 4th quarter valued at approximately $114,000. Dimensional Fund Advisors LP acquired a new stake in Eiger Biopharmaceuticals during the 3rd quarter worth approximately $194,000. Millennium Management LLC acquired a new stake in Eiger Biopharmaceuticals during the 4th quarter worth approximately $255,000. Bank of America Corp DE raised its holdings in Eiger Biopharmaceuticals by 49.6% during the 4th quarter. Bank of America Corp DE now owns 25,884 shares of the biotechnology company’s stock worth $263,000 after buying an additional 8,581 shares during the period. Finally, Tocqueville Asset Management L.P. raised its holdings in Eiger Biopharmaceuticals by 55.9% during the 4th quarter. Tocqueville Asset Management L.P. now owns 26,350 shares of the biotechnology company’s stock worth $268,000 after buying an additional 9,450 shares during the period. Institutional investors and hedge funds own 80.85% of the company’s stock.

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.

See Also: What is a Market Correction?

Get a free copy of the Zacks research report on Eiger Biopharmaceuticals (EIGR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Eiger Biopharmaceuticals (NASDAQ:EIGR)

Receive News & Ratings for Eiger Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eiger Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.