Eiger Biopharmaceuticals (NASDAQ:EIGR) Trading 5% Higher

Eiger Biopharmaceuticals Inc (NASDAQ:EIGR) was up 5% during trading on Friday . The company traded as high as $10.27 and last traded at $10.26, approximately 104,300 shares traded hands during mid-day trading. A decline of 39% from the average daily volume of 171,385 shares. The stock had previously closed at $9.77.

A number of equities research analysts recently commented on EIGR shares. Wedbush reissued an “outperform” rating and issued a $35.00 price objective on shares of Eiger Biopharmaceuticals in a research note on Tuesday, June 18th. ValuEngine raised shares of Eiger Biopharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. LADENBURG THALM/SH SH reissued a “buy” rating and issued a $28.00 price objective on shares of Eiger Biopharmaceuticals in a research note on Monday, August 12th. Citigroup started coverage on shares of Eiger Biopharmaceuticals in a research note on Wednesday, June 26th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Eiger Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $28.34.

The stock’s 50 day moving average is $10.69 and its 200 day moving average is $11.95. The company has a quick ratio of 8.16, a current ratio of 9.64 and a debt-to-equity ratio of 0.36.

Eiger Biopharmaceuticals (NASDAQ:EIGR) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.73) by ($0.02). Equities analysts anticipate that Eiger Biopharmaceuticals Inc will post -2.51 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Eiger Biopharmaceuticals by 281.9% during the 2nd quarter. BlackRock Inc. now owns 1,729,161 shares of the biotechnology company’s stock worth $18,330,000 after purchasing an additional 1,276,408 shares during the last quarter. Cormorant Asset Management LP acquired a new stake in shares of Eiger Biopharmaceuticals during the 2nd quarter worth about $12,190,000. Vanguard Group Inc. boosted its stake in shares of Eiger Biopharmaceuticals by 39.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,070,914 shares of the biotechnology company’s stock worth $11,352,000 after purchasing an additional 300,279 shares during the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Eiger Biopharmaceuticals during the 2nd quarter worth about $10,600,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Eiger Biopharmaceuticals during the 2nd quarter worth about $3,168,000. 80.68% of the stock is currently owned by hedge funds and other institutional investors.

Eiger Biopharmaceuticals Company Profile (NASDAQ:EIGR)

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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