Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Eiger Biopharmaceuticals (EIGR) today and set a price target of $28. The company’s shares closed yesterday at $10.49.
Higgins commented:
“We are encouraged to see that the agency has recognized the unmet need of post-bariatric surgery patients that develop PBH, which is a chronic condition characterized by dangerously low postprandial blood glucose levels. By 2022, we estimate ~70,000 annual Roux-en-Y gastric bypass (RYGB) surgeries will be performed in the U.S. (stomach is cut to form a small pouch; connected directly to small intestine’s ileum), with ~25,000 developing PBH. We are modeling peak revenues of $200-250M in the U.S. and Europe, each. We continue to look for Eiger to secure a European partner after pivotal results and/or after EMA approval. The BTD status is timely, as Eiger management is to meet with the agency this summer for its End-of-Phase 2 meeting where it will discuss the pivotal study design, the dosing, duration, cohort size and other design details.”
According to TipRanks.com, Higgins is ranked 0 out of 5 stars with an average return of -8.2% and a 30.0% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Achieve Life Sciences Inc, and Melinta Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eiger Biopharmaceuticals with a $31.50 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $15.33 and a one-year low of $8.40. Currently, Eiger Biopharmaceuticals has an average volume of 188.4K.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EIGR in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Eiger BioPharmaceuticals, Inc is a clinical-stage biopharmaceutical company. It focuses on the development and commercialization of well-characterized drugs for life-threatening, rare and ultra-rare diseases with high unmet medical needs and no approved therapies.
