Is Selling Stock Like Eiger BioPharmaceuticals, Inc. (EIGR) After This Bearish Multiple Bottom Winning Strategy?

May 22, 2018 - By Dolores Ford

Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) Logo

The stock of Eiger BioPharmaceuticals, Inc. (EIGR) shows a multiple bottoms pattern with $12.82 target or 7.00 % below today’s $13.78 share price. The 8 months chart pattern indicates high risk for the $145.27M company. It was reported on May, 22 by Finviz.com. If the $12.82 price target is reached, the company will be worth $10.17 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 5.92% or $0.87 during the last trading session, reaching $13.78. About 159,304 shares traded or 32.54% up from the average. Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) has declined 11.57% since May 22, 2017 and is downtrending. It has underperformed by 23.12% the S&P500.

Analysts await Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) to report earnings on August, 13. They expect $-0.98 earnings per share, up 26.32 % or $0.35 from last year’s $-1.33 per share. After $-0.84 actual earnings per share reported by Eiger BioPharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 16.67 % negative EPS growth.

More news for Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) were recently published by: Benzinga.com, which released: “26 Stocks Moving In Friday’s Mid-Day Session” on May 18, 2018. Benzinga.com‘s article titled: “Benzinga’s Daily Biotech Pulse: AstraZeneca’s Q1, Novartis-Amgen Migraine Drug Approved” and published on May 18, 2018 is yet another important article.

Eiger BioPharmaceuticals, Inc., a clinical stage biopharmaceutical company, focuses on providing various products for the treatment of orphan diseases in the United States. The company has market cap of $145.27 million. The Company’s product candidate pipeline includes Lonafarnib for the treatment of hepatitis delta virus infection; PEG-interferon Lambda-1a (Lambda) for HDV infection; Exendin 9-39 for post-bariatric hypoglycemia; and Ubenimex for the treatment of pulmonary arterial hypertension and lymphedema, which are under Phase II clinical trials. It currently has negative earnings.

Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) Ratings Chart

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