Eiger Biopharmaceuticals Received its Third Buy in a Row

After Wedbush and Oppenheimer 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 $24. The company’s shares opened today at $10.75.

Kumar noted:

“Friday after market close, 5/11, Eiger BioPharmaceuticals (EIGR) announced 1Q18 earnings and provided a corporate update. After model updates, we remind investors that the key inflection point for EIGR shares remains the start of the Phase III D-LIVR trial for lead drug combination lonafarnib and ritonavir (LNF/RTV) in hepatitis δ virus (HDV) infection, guided for 4Q18. We thus reiterate our EIGR Buy rating and $24 price target.”

According to TipRanks.com, Kumar is a 5-star analyst with an average return of 40.2% and a 63.3% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Deciphera Pharmaceuticals Inc.

Currently, the analyst consensus on Eiger Biopharmaceuticals is Strong Buy and the average price target is $25.75, representing a 139.5% upside.

In a report issued on May 11, Oppenheimer also reiterated a Buy rating on the stock with a $26 price target.

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The company has a one-year high of $16.20 and a one-year low of $6.10. Currently, Eiger Biopharmaceuticals has an average volume of 69.78K.

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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.