Oppenheimer Reiterates a Buy Rating on Eiger Biopharmaceuticals

By Ryan Adsit

In a report released today, Jay Olson from Oppenheimer reiterated a Buy rating on Eiger Biopharmaceuticals (NASDAQ: EIGR), with a price target of $34. The company’s shares closed on Friday at $8.60.

Olson commented:

“EIGR recently announced completion of enrollment (N=33) of the Ph2 LIMT HDV (Lambda Interferon MonoTherapy in HDV) Study, a monotherapy trial of pegylated interferon lambda 1a as a potential treatment for chronic hepatitis D virus (HDV) infection. PEG-IFNλ is the second asset in the pipeline targeting HDV and is potentially being developed for two treatment regimens: 1) PEG-IFNλ monotherapy and 2) PEG-IFNλ plus LNF-RTV combination. Separately, EIGR received Fast Track Designation for PEG-IFNλ, which we see as an important achievement and validation of the serious unmet medical need by the FDA. LIMT Ph2 data may be presented at AASLD and discussed (with LNF-RTV data) with regulators in Oct./Nov.”

According to TipRanks.com, Olson is a 5-star analyst with an average return of 14.3% and a 70.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as CymaBay Therapeutics, Intercept Pharma, and Axovant Sciences.

Eiger Biopharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $31.

Based on Eiger Biopharmaceuticals’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $0 and GAAP net loss of $11.24 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $13.2 million.

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Celladon Corp. is a clinical-stage biotechnology company, engaging in the development of cardiovascular gene therapy. The company’s therapeutic portfolio for diseases characterized by SERCA enzyme deficiency includes both gene therapies and small molecule compounds.