Eiger BioPharmaceuticals Inc (NASDAQ:EIGR) shares, rose in value, with the stock price up by 36.97% to the previous day’s close as strong demand from buyers drove the stock to $2.26.
Actively observing the price movement in the last trading, the stock closed the session at $1.65. Referring to stock’s 52-week performance, its high was $43.35, and the low was $1.10. On the whole, EIGR has fluctuated by -67.48% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$7.5, which is expected to increase to -$5.4 for fiscal year -$49.2 and then to about -$15.6 by fiscal year 2024. Data indicates that the EPS growth is expected to be 29.30% in 2024, while the next year’s EPS growth is forecast to be 68.30%.
Analysts have estimated the company’s revenue for the quarter at $6.48 million, with a low estimate of $6.48 million and a high estimate of $6.48 million. According to the average forecast, sales growth in current quarter could jump up 140.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $18.4 million, representing an increase of 36.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that EIGR’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EIGR currently trading nearly -55.82% and -60.29% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 31.37, while the 7-day volatility ratio is showing 116.74% which for the 30-day chart, stands at 38.17%. Furthermore, Eiger BioPharmaceuticals Inc (EIGR)’s beta value is 1.94, and its average true range (ATR) is 1.00.
A comparison of Eiger BioPharmaceuticals Inc (EIGR) with its peers suggests the former has fared considerably weaker in the market. EIGR showed an intraday change of 36.97% in last session, and over the past year, it shrunk by -91.68%%.
Data on historical trading for Eiger BioPharmaceuticals Inc (NASDAQ:EIGR) indicates that the trading volumes over the past 10 days have averaged 0.47 million and over the past 3 months, they’ve averaged 83.11K. According to company’s latest data on outstanding shares, there are 1.48 million shares outstanding.
Nearly 11.78% of Eiger BioPharmaceuticals Inc’s shares belong to company insiders and institutional investors own 41.92% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 33590.0 shares as on Mar 15, 2024, resulting in a short ratio of 3.72. According to the data, the short interest in Eiger BioPharmaceuticals Inc (EIGR) stood at 2.27% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 42340.0. The stock has fallen by -66.44% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EIGR stock heading into the next quarter.
