Eiger BioPharmaceuticals (NASDAQ:EIGR) Given New $4.00 Price Target at Citigroup

Eiger BioPharmaceuticals (NASDAQ:EIGR – Get Rating) had its price target lowered by stock analysts at Citigroup from $23.00 to $4.00 in a research note issued on Friday, The Fly reports. Citigroup’s price target indicates a potential upside of 241.88% from the stock’s previous close.

A number of other analysts also recently weighed in on EIGR. BTIG Research reduced their target price on shares of Eiger BioPharmaceuticals from $57.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, September 7th. StockNews.com downgraded shares of Eiger BioPharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, November 4th.

Eiger BioPharmaceuticals Stock Down 69.5 %

Shares of Eiger BioPharmaceuticals stock opened at $1.17 on Friday. The company has a current ratio of 5.45, a quick ratio of 5.34 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $4.92 and its two-hundred day simple moving average is $6.63. The company has a market cap of $51.56 million, a P/E ratio of -0.49 and a beta of 1.39. Eiger BioPharmaceuticals has a 12-month low of $0.96 and a 12-month high of $10.02.

Institutional Trading of Eiger BioPharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. grew its position in Eiger BioPharmaceuticals by 15.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 113,850 shares of the biotechnology company’s stock valued at $944,000 after purchasing an additional 15,200 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Eiger BioPharmaceuticals during the 1st quarter valued at about $840,000. ACT Capital Management LLC grew its position in Eiger BioPharmaceuticals by 57.7% during the 1st quarter. ACT Capital Management LLC now owns 250,000 shares of the biotechnology company’s stock valued at $2,075,000 after purchasing an additional 91,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Eiger BioPharmaceuticals during the 1st quarter valued at about $192,000. Finally, MetLife Investment Management LLC purchased a new stake in Eiger BioPharmaceuticals during the 1st quarter valued at about $165,000. 67.87% of the stock is owned by hedge funds and other institutional investors.

Eiger BioPharmaceuticals Company Profile

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Eiger BioPharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of targeted therapies for rare and ultra-rare diseases in the United States and internationally. Its lead product candidate is Lonafarnib, an orally bioavailable, small molecule, which is in Phase III clinical trials to treat hepatitis delta virus infection.