Eiger Biopharmaceuticals (EIGR) Received its Third Buy in a Row


After Wedbush and B.Riley FBR gave Eiger Biopharmaceuticals (NASDAQ: EIGR) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jay Olson reiterated a Buy rating on Eiger Biopharmaceuticals today and set a price target of $26. The company’s shares opened today at $9.60.

Olson observed:

“EIGR announced 2Q18 net loss of $9.9M, in line with our estimate (lower than consensus $9.5M) and reported GAAP EPS of -$0.82 vs. our -$0.93 estimate (-$0.90 consensus). EIGR appears sufficiently funded with $73.5M in cash for development of pivotal Ph3 D-LIVR study of Lonafarnib in patients with HDV and expanded access program (EAP) in progeria. The company faces several near-term catalysts with Ph3 D-LIVR study planned to initiate YE18, Ph2 LIMT top-line data with PEG-IFNλ, EAP of Lonafarnib in progeria, Ph2 PREVENT study top-line data, Exendin 9-39 (Avexitide) in PBH, and Ph2 ULTRA Lymphedema top-line data. EIGR is sufficiently funded until mid-2019, which extends beyond delivery of data from all three assets in 2H18. We reiterate our Outperform rating and $26 PT.”

According to TipRanks.com, Olson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.3% and a 36.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Enanta Pharmaceuticals.

Eiger Biopharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $31, a 222.9% upside from current levels. In a report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $53 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 181.5K.

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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.

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