BTIG analyst Robert Hazlett lowered the firm’s price target on Eiger BioPharmaceuticals to $9 from $48 and keeps a Buy rating on the shares. The company’s pivotal results for Lonafarnib in Hepatitis Delta were significant, though much lower than Phase 2 data, the analyst tells investors in a research note, noting that the "extra bullish veneer" is now gone from the stock. Hazlett further cites the gradual loss of viral response over time to the oral-only Lonafarnib arm beginning in week 16 through week 48, adding that the reason for this is unclear.
Published first on TheFly
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