Eiger BioPharma (EIGR) PT Raised to $29 at Ladenburg Thalmann Following Lambda's Positive TOGETHER Data

Ladenburg Thalmann analyst Michael Higgins raised the price target on Eiger BioPharma (NASDAQ: EIGR) to $29.00 (from $28.00) while maintaining a Buy rating after the company posted positive news from its pegylated Type III interferon Lambda in an ~2,000 patient Covid study.

The analyst commented, "Results showed that a single injection of Lambda in Covid-infected adults at risk of disease progression reduced the risk of hospitalization by 50% and death by 60%. Most of these patients (84%) had been vaccinated and patients were infected by every variant of concern, with the amount of Omicron described as “considerable”. We look for more details on the data besides those shown on Exhibits 2 to 4, as well as the next steps for the company in the next few months. For now, with this data in hand, mgt will reach out to those involved with the scale up (<300,000 doses by YE’22), and sources of non-profit and government funding. For now, we are modeling $10M in R&D in 2H’22 and 1H’23 revenues of $50M, which adds $1 to our price target."

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