Eiger Biopharmaceuticals (EIGR) Downgraded to “Hold” at Zacks Investment Research

Eiger Biopharmaceuticals (NASDAQ:EIGR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

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. “

Other equities analysts have also recently issued reports about the company. ValuEngine raised Eiger Biopharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. BTIG Research boosted their target price on Eiger Biopharmaceuticals from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, December 19th. Wedbush reissued a “buy” rating and set a $43.00 target price on shares of Eiger Biopharmaceuticals in a research note on Tuesday, February 19th. BidaskClub cut Eiger Biopharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 14th. Finally, Robert W. Baird initiated coverage on Eiger Biopharmaceuticals in a research report on Monday, January 28th. They set an “outperform” rating and a $47.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Eiger Biopharmaceuticals presently has an average rating of “Buy” and an average target price of $31.75.

Shares of EIGR traded up $0.70 during mid-day trading on Monday, hitting $13.99. 78,136 shares of the company’s stock traded hands, compared to its average volume of 96,130. The company has a debt-to-equity ratio of 0.56, a quick ratio of 4.59 and a current ratio of 4.59. Eiger Biopharmaceuticals has a 1 year low of $8.20 and a 1 year high of $18.00. The stock has a market capitalization of $253.77 million, a PE ratio of -2.88 and a beta of 1.48.

Eiger Biopharmaceuticals (NASDAQ:EIGR) last posted its earnings results on Thursday, March 14th. The biotechnology company reported ($0.92) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by ($0.10). Research analysts forecast that Eiger Biopharmaceuticals will post -3.46 EPS for the current fiscal year.

In other news, Director Thomas John Dietz purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The shares were bought at an average cost of $9.98 per share, for a total transaction of $49,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $99,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in Eiger Biopharmaceuticals in the fourth quarter worth $114,000. Dimensional Fund Advisors LP bought a new stake in Eiger Biopharmaceuticals in the third quarter worth $194,000. Tocqueville Asset Management L.P. bought a new stake in Eiger Biopharmaceuticals in the third quarter worth $203,000. Millennium Management LLC bought a new stake in Eiger Biopharmaceuticals in the fourth quarter worth $255,000. Finally, Bank of America Corp DE boosted its holdings in Eiger Biopharmaceuticals by 49.6% in the fourth quarter. Bank of America Corp DE now owns 25,884 shares of the biotechnology company’s stock worth $263,000 after acquiring an additional 8,581 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

About Eiger Biopharmaceuticals

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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