BTIG Research Cuts Eiger BioPharmaceuticals (NASDAQ:EIGR) Price Target to $48.00

Eiger BioPharmaceuticals (NASDAQ:EIGRGet Rating) had its target price reduced by equities researchers at BTIG Research from $57.00 to $48.00 in a report issued on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock.

Separately, StockNews.com raised shares of Eiger BioPharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, August 8th.

Eiger BioPharmaceuticals Trading Up 2.5 %

EIGR stock opened at $6.56 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 7.09 and a current ratio of 7.22. The firm has a fifty day moving average price of $8.42 and a 200 day moving average price of $7.22. The firm has a market cap of $288.42 million, a PE ratio of -2.69 and a beta of 1.68. Eiger BioPharmaceuticals has a fifty-two week low of $3.53 and a fifty-two week high of $10.02.

Eiger BioPharmaceuticals (NASDAQ:EIGRGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.20. The company had revenue of $4.09 million during the quarter, compared to analyst estimates of $2.10 million. Eiger BioPharmaceuticals had a negative net margin of 672.48% and a negative return on equity of 97.79%. During the same period in the previous year, the firm earned ($0.57) earnings per share. Sell-side analysts anticipate that Eiger BioPharmaceuticals will post -2.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Apelian sold 5,000 shares of Eiger BioPharmaceuticals stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $9.81, for a total transaction of $49,050.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $107,910. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.40% of the stock is owned by insiders.

Institutional Trading of Eiger BioPharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in EIGR. Legal & General Group Plc lifted its position in shares of Eiger BioPharmaceuticals by 62.0% during the second quarter. Legal & General Group Plc now owns 4,327 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 1,656 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Eiger BioPharmaceuticals during the first quarter worth $32,000. BNP Paribas Arbitrage SA lifted its position in shares of Eiger BioPharmaceuticals by 208.7% during the second quarter. BNP Paribas Arbitrage SA now owns 9,307 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 6,292 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Eiger BioPharmaceuticals during the second quarter worth $63,000. Finally, Credit Suisse AG bought a new stake in shares of Eiger BioPharmaceuticals in the second quarter valued at about $66,000. 67.87% of the stock is currently owned by institutional investors.

About Eiger BioPharmaceuticals

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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.

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