After Ladenburg and Piper Jaffray gave Eiger Biopharmaceuticals (NASDAQ: EIGR) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Madhu Kumar reiterated a Buy rating on Eiger Biopharmaceuticals today and set a price target of $21. The company’s shares opened today at $12.50.
Kumar observed:
“Yesterday after market close, 10/17/2018, Eiger BioPharmaceuticals (EIGR) announced positive Phase II data for pegylated interferon λ (PEG-IFNλ) monotherapy in hepatitis δ virus (HDV) infection. We view these results as a positive event for EIGR shares, as it validates the firm’s platform opportunity in HDV, particularly the combination of PEG-IFNλ with prenylation inhibitor lonafarnib and CYP inhibitor ritonavir (LNF/RTV), currently in the Phase II LIFT trial guided to read out in 2019. We look forward to additional data from this study at the Diseases (AASLD) meeting but we remind investors that the key near-term value driver remains the start of the Phase III D-LIVR trial of LNF/RTV in HDV, guided to start in 4Q18. We thus reiterate our EIGR Buy rating and $21 price target.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 18.0% and a 45.7% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Clementia Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Eiger Biopharmaceuticals with a $29.50 average price target, representing a 136.0% upside. In a report released yesterday, Piper Jaffray also reiterated a Buy rating on the stock with a $24 price target.
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The company has a one-year high of $18 and a one-year low of $7.46. Currently, Eiger Biopharmaceuticals has an average volume of 79.34K.
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Eiger BioPharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of targeted therapies for orphan diseases. It focuses on product candidates for the treatment of orphan diseases such as Sarasar, Pegylated Interferon Lambda, Exendin 9-39, and Ubenimex.
