Wedbush Sticks to Its Buy Rating for Eiger Biopharmaceuticals (EIGR)

By Jason Carr

Wedbush analyst Liana Moussatos maintained a Buy rating on Eiger Biopharmaceuticals (EIGRResearch Report) today and set a price target of $34.00. The company’s shares closed last Thursday at $11.36.

According to TipRanks.com, Moussatos is a 5-star analyst with an average return of 8.8% and a 52.2% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Catabasis Pharmaceuticals, Global Blood Therapeutics, and BioMarin Pharmaceutical.

Currently, the analyst consensus on Eiger Biopharmaceuticals is a Moderate Buy with an average price target of $31.00, a 169.3% upside from current levels. In a report issued on May 20, Ladenburg Thalmann & Co. also reiterated a Buy rating on the stock with a $28.00 price target.

See today’s analyst top recommended stocks >>

Based on Eiger Biopharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $15.24 million. In comparison, last year the company had a GAAP net loss of $17.19 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EIGR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Eiger BioPharmaceuticals, Inc is a clinical-stage biopharmaceutical company. It focuses on the development and commercialization of well-characterized drugs for life-threatening, rare and ultra-rare diseases with high unmet medical needs and no approved therapies. The company was founded by David A. Cory on November 6, 2008 and is headquartered in Palo Alto, CA.