Zacks Investment Research Lowers Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) to Hold

Zacks Investment Research cut shares of Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) from a buy rating to a hold rating in a research note released on Tuesday, October 17th.

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. Piper Jaffray Companies reissued a buy rating and issued a $36.00 price target on shares of Eiger BioPharmaceuticals in a report on Tuesday, August 15th. Wedbush reissued an outperform rating and issued a $34.00 price target (up from $28.00) on shares of Eiger BioPharmaceuticals in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. reissued a buy rating and issued a $34.00 price target on shares of Eiger BioPharmaceuticals in a report on Monday, September 25th. ValuEngine raised shares of Eiger BioPharmaceuticals from a strong sell rating to a sell rating in a report on Friday, September 1st. Finally, BTIG Research initiated coverage on shares of Eiger BioPharmaceuticals in a report on Friday, July 14th. They issued a buy rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $30.43.

Eiger BioPharmaceuticals (EIGR) traded down $0.10 during midday trading on Tuesday, reaching $11.30. 30,859 shares of the company’s stock traded hands, compared to its average volume of 84,170. The company has a current ratio of 7.01, a quick ratio of 7.01 and a debt-to-equity ratio of 0.72. Eiger BioPharmaceuticals has a 52 week low of $6.10 and a 52 week high of $13.95.

Eiger BioPharmaceuticals (NASDAQ:EIGR) last posted its quarterly earnings data on Monday, August 14th. The biotechnology company reported ($1.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.28) by ($0.05). research analysts forecast that Eiger BioPharmaceuticals will post -5.35 EPS for the current fiscal year.

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In other news, Director Jeffrey S. Glenn acquired 15,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were acquired at an average cost of $9.53 per share, for a total transaction of $142,950.00. Following the purchase, the director now owns 31,355 shares of the company’s stock, valued at approximately $298,813.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 28.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in EIGR. P.A.W. Capital Corp bought a new stake in Eiger BioPharmaceuticals in the 3rd quarter valued at about $880,000. Hikari Power Ltd raised its stake in Eiger BioPharmaceuticals by 491.0% in the 2nd quarter. Hikari Power Ltd now owns 60,992 shares of the biotechnology company’s stock valued at $482,000 after acquiring an additional 50,672 shares during the period. Goldman Sachs Group Inc. bought a new stake in Eiger BioPharmaceuticals in the 2nd quarter valued at about $272,000. LMR Partners LLP bought a new stake in Eiger BioPharmaceuticals in the 2nd quarter valued at about $116,000. Finally, Susquehanna International Group LLP bought a new stake in Eiger BioPharmaceuticals in the 2nd quarter valued at about $114,000. Institutional investors and hedge funds own 61.04% of the company’s stock.

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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