Eiger Biopharmaceuticals Gets a Buy Rating from Oppenheimer

By Carrie Williams

Oppenheimer analyst Jay Olson reiterated a Buy rating on Eiger Biopharmaceuticals (NASDAQ: EIGR) yesterday and set a price target of $26. The company’s shares closed yesterday at $8.95.

Olson noted:

“EIGR announced 2017 expenses of $41.8M (vs. our $41.5M estimate) and ended 2017 with $41.8M in cash and equivalents. EIGR reported 4Q GAAP EPS of ($1.11) vs. our ($0.89) estimate and ($1.02) consensus. The company faces several near- term catalysts with the initiation of the Ph3 program in HDV, completion of Ph2 LIMT study with PEG-IFNλ, Ph2 PREVENT study completion of exendin 9-39 in PBH, and Ph2 Ultra study completion of ubenimex in lymphodema. 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 a 1-star analyst with an average return of -0.8% and a 38.1% success rate. Olson covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Conatus Pharmaceuticals, and Spero Therapeutics Inc.

Eiger Biopharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $25.75.

Based on Eiger Biopharmaceuticals’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $0 and GAAP net loss of $10.89 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $12.77 million.

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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. The company was founded by David A.