Eiger BioPharmaceuticals (NASDAQ:EIGR) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Eiger BioPharmaceuticals (NASDAQ:EIGR) in a report issued on Tuesday. The firm set a “sell” rating on the biotechnology company’s stock.

Eiger BioPharmaceuticals Price Performance

The company has a market capitalization of $2.55 million, a price-to-earnings ratio of -0.03 and a beta of 1.83. Eiger BioPharmaceuticals has a 52 week low of $1.10 and a 52 week high of $43.35. The company’s 50-day simple moving average is $5.04 and its two-hundred day simple moving average is $7.14.

Institutional Investors Weigh In On Eiger BioPharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake 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 purchasing an additional 1,656 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Eiger BioPharmaceuticals by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 88,711 shares of the biotechnology company’s stock worth $737,000 after purchasing an additional 1,953 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Eiger BioPharmaceuticals by 2.3% during the third quarter. Nuveen Asset Management LLC now owns 102,103 shares of the biotechnology company’s stock worth $768,000 after purchasing an additional 2,309 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Eiger BioPharmaceuticals by 2.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 114,658 shares of the biotechnology company’s stock valued at $722,000 after acquiring an additional 2,537 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Eiger BioPharmaceuticals by 8.4% in the 3rd quarter. Alliancebernstein L.P. now owns 36,000 shares of the biotechnology company’s stock valued at $271,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors own 62.46% of the company’s stock.

About Eiger BioPharmaceuticals

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.