Eiger Biopharmaceuticals (EIGR) Announces Quarterly Earnings Results

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Eiger Biopharmaceuticals (NASDAQ:EIGR) issued its quarterly earnings data on Friday. The biotechnology company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.43), MarketWatch Earnings reports.

Shares of NASDAQ EIGR traded down $0.72 during midday trading on Friday, hitting $10.91. The stock had a trading volume of 91,373 shares, compared to its average volume of 197,370. The company has a market cap of $169.36 million, a PE ratio of -2.24 and a beta of 1.58. Eiger Biopharmaceuticals has a 1 year low of $7.46 and a 1 year high of $18.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 8.49 and a quick ratio of 8.49.

EIGR has been the topic of several research reports. Wedbush set a $53.00 target price on Eiger Biopharmaceuticals and gave the company a “buy” rating in a research report on Monday, September 10th. ValuEngine upgraded Eiger Biopharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 20th. Oppenheimer set a $26.00 target price on Eiger Biopharmaceuticals and gave the company a “buy” rating in a research report on Thursday, October 18th. Zacks Investment Research upgraded Eiger Biopharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Monday, October 15th. Finally, LADENBURG THALM/SH SH set a $28.00 target price on Eiger Biopharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, October 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Eiger Biopharmaceuticals presently has an average rating of “Buy” and a consensus target price of $29.71.

In other news, major shareholder Interwest Partners X. Lp sold 237,265 shares of the firm’s stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $12.06, for a total value of $2,861,415.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.90% of the company’s stock.

An institutional investor recently raised its position in Eiger Biopharmaceuticals stock. Bank of New York Mellon Corp increased its stake in shares of Eiger Biopharmaceuticals Inc (NASDAQ:EIGR) by 36.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,412 shares of the biotechnology company’s stock after buying an additional 5,492 shares during the quarter. Bank of New York Mellon Corp owned about 0.14% of Eiger Biopharmaceuticals worth $249,000 at the end of the most recent reporting period. 68.69% of the stock is currently owned by institutional investors and hedge funds.

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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: Diversification

Earnings History for Eiger Biopharmaceuticals (NASDAQ:EIGR)

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