Eiger BioPharmaceuticals (NASDAQ:EIGR) Downgraded by StockNews.com

Eiger BioPharmaceuticals (NASDAQ:EIGR) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Several other research analysts have also recently issued reports on the stock. Robert W. Baird increased their price target on shares of Eiger BioPharmaceuticals from $3.00 to $5.00 and gave the stock an “outperform” rating in a report on Friday, June 30th. Citigroup cut their price target on shares of Eiger BioPharmaceuticals from $4.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, August 29th.

Eiger BioPharmaceuticals Stock Performance

Shares of NASDAQ EIGR traded up $0.07 during mid-day trading on Monday, hitting $0.93. 242,700 shares of the company were exchanged, compared to its average volume of 500,368. The company has a quick ratio of 4.15, a current ratio of 4.22 and a debt-to-equity ratio of 2.64. The stock has a 50 day simple moving average of $0.75 and a 200-day simple moving average of $1.02. Eiger BioPharmaceuticals has a 1-year low of $0.53 and a 1-year high of $8.78. The firm has a market cap of $41.20 million, a price-to-earnings ratio of -0.43 and a beta of 1.64.

Institutional Trading of Eiger BioPharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its holdings in 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 buying an additional 1,656 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in 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. Credit Suisse AG acquired a new position in Eiger BioPharmaceuticals during the second quarter worth $66,000. BNP Paribas Arbitrage SNC raised its holdings in Eiger BioPharmaceuticals by 39.1% during the third quarter. BNP Paribas Arbitrage SNC now owns 12,948 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 3,641 shares during the last quarter. Finally, American International Group Inc. raised its holdings in Eiger BioPharmaceuticals by 20.7% during the second quarter. American International Group Inc. now owns 19,177 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 3,283 shares during the last quarter. Hedge funds and other institutional investors own 62.46% of the company’s stock.

Eiger BioPharmaceuticals Company Profile

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.