Eiger Biopharmaceuticals (NASDAQ:EIGR) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Eiger Biopharmaceuticals (NASDAQ:EIGR) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $11.00 target price on the biotechnology company’s stock.

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 equities analysts also recently weighed in on EIGR. Wedbush reaffirmed an outperform rating and issued a $35.00 target price on shares of Eiger Biopharmaceuticals in a research report on Tuesday, June 18th. Citigroup initiated coverage on Eiger Biopharmaceuticals in a research report on Wednesday, June 26th. They issued a buy rating and a $22.00 target price for the company. ValuEngine raised Eiger Biopharmaceuticals from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd. KeyCorp initiated coverage on Eiger Biopharmaceuticals in a research report on Wednesday, June 26th. They issued an overweight rating and a $10.72 target price for the company. Finally, LADENBURG THALM/SH SH reaffirmed a buy rating and issued a $28.00 target price on shares of Eiger Biopharmaceuticals in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Eiger Biopharmaceuticals has an average rating of Buy and a consensus price target of $28.34.

Shares of NASDAQ:EIGR opened at $10.26 on Tuesday. The business has a 50-day moving average price of $10.69 and a 200 day moving average price of $11.95. The company has a current ratio of 9.64, a quick ratio of 8.16 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $239.85 million, a price-to-earnings ratio of -2.69 and a beta of 1.01. Eiger Biopharmaceuticals has a 12-month low of $8.40 and a 12-month high of $15.33.

Eiger Biopharmaceuticals (NASDAQ:EIGR) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.02). As a group, equities research analysts predict that Eiger Biopharmaceuticals will post -2.49 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Eiger Biopharmaceuticals by 108.6% in the fourth quarter. BlackRock Inc. now owns 468,678 shares of the biotechnology company’s stock worth $4,761,000 after buying an additional 244,028 shares in the last quarter. Northern Trust Corp increased its position in Eiger Biopharmaceuticals by 28.3% in the fourth quarter. Northern Trust Corp now owns 60,750 shares of the biotechnology company’s stock worth $617,000 after purchasing an additional 13,405 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Eiger Biopharmaceuticals by 127.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 36,750 shares of the biotechnology company’s stock worth $373,000 after purchasing an additional 20,625 shares during the last quarter. Geode Capital Management LLC increased its position in Eiger Biopharmaceuticals by 34.9% in the fourth quarter. Geode Capital Management LLC now owns 104,792 shares of the biotechnology company’s stock worth $1,064,000 after purchasing an additional 27,136 shares during the last quarter. Finally, Bank of America Corp DE increased its position 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 purchasing an additional 8,581 shares during the last quarter. 80.68% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: Options Trading – Understanding Strike Price

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.