Investment analysts at Citigroup started coverage on shares of Eiger Biopharmaceuticals (NASDAQ:EIGR) in a note issued to investors on Wednesday, June 26th, Marketbeat.com reports. The firm set a “buy” rating and a $22.00 price target on the biotechnology company’s stock. Citigroup‘s price target would indicate a potential upside of 96.43% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Tempur Sealy International in a report on Tuesday, June 18th. LADENBURG THALM/SH SH reissued a “buy” rating and set a $28.00 target price on shares of Eiger Biopharmaceuticals in a research note on Tuesday, June 18th. Zacks Investment Research cut W. R. Grace & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, ValuEngine cut Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.47.
Shares of NASDAQ EIGR traded down $0.21 during mid-day trading on Wednesday, reaching $11.20. 66,100 shares of the company were exchanged, compared to its average volume of 181,232. The business has a 50-day simple moving average of $10.69. Eiger Biopharmaceuticals has a 1 year low of $8.40 and a 1 year high of $15.33. The firm has a market capitalization of $219.95 million, a PE ratio of -2.93 and a beta of 1.07. The company has a current ratio of 8.16, a quick ratio of 8.16 and a debt-to-equity ratio of 0.62.
In related news, Director Thomas John Dietz bought 5,000 shares of Eiger Biopharmaceuticals stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average price of $11.05 per share, with a total value of $55,250.00. Following the purchase, the director now owns 15,000 shares in the company, valued at $165,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 7,250 shares of company stock worth $80,130 in the last three months. Corporate insiders own 5.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Eiger Biopharmaceuticals by 4.9% during the third quarter. Vanguard Group Inc. now owns 450,456 shares of the biotechnology company’s stock valued at $5,406,000 after buying an additional 21,000 shares during the last quarter. Tocqueville Asset Management L.P. boosted its stake in shares of Eiger Biopharmaceuticals by 55.9% during the 4th quarter. Tocqueville Asset Management L.P. now owns 26,350 shares of the biotechnology company’s stock valued at $268,000 after buying an additional 9,450 shares during the period. BlackRock Inc. lifted its stake in shares of Eiger Biopharmaceuticals by 108.6% in the 4th quarter. BlackRock Inc. now owns 468,678 shares of the biotechnology company’s stock valued at $4,761,000 after purchasing an additional 244,028 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Eiger Biopharmaceuticals by 28.3% in the 4th quarter. Northern Trust Corp now owns 60,750 shares of the biotechnology company’s stock valued at $617,000 after purchasing an additional 13,405 shares during the last quarter. Finally, Knott David M raised its holdings in Eiger Biopharmaceuticals by 30.5% in the 4th quarter. Knott David M now owns 131,333 shares of the biotechnology company’s stock worth $1,334,000 after acquiring an additional 30,664 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.
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.
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