Siga Technologies (NASDAQ:SIGA) Announces Earnings Results

Siga Technologies (NASDAQ:SIGA) released its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, Zacks reports. Siga Technologies had a return on equity of 40.52% and a net margin of 45.73%.The company had revenue of $2.62 million for the quarter.

Siga Technologies Trading Down 20.0%

NASDAQ SIGA traded down $1.63 on Friday, hitting $6.54. 1,006,829 shares of the company’s stock traded hands, compared to its average volume of 468,121. The firm’s 50-day moving average price is $8.55 and its two-hundred day moving average price is $7.39. The firm has a market capitalization of $468.30 million, a PE ratio of 5.79 and a beta of 0.93. Siga Technologies has a 1-year low of $4.95 and a 1-year high of $9.62.

Institutional Investors Weigh In On Siga Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIGA. Vanguard Group Inc. raised its stake in shares of Siga Technologies by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,655,942 shares of the company’s stock valued at $24,302,000 after buying an additional 142,036 shares during the last quarter. Bank of America Corp DE grew its holdings in Siga Technologies by 143.2% during the second quarter. Bank of America Corp DE now owns 405,730 shares of the company’s stock worth $2,645,000 after acquiring an additional 238,869 shares during the period. Federated Hermes Inc. raised its position in Siga Technologies by 0.6% during the second quarter. Federated Hermes Inc. now owns 362,961 shares of the company’s stock valued at $2,367,000 after acquiring an additional 1,991 shares in the last quarter. Ameriprise Financial Inc. raised its position in Siga Technologies by 34.8% during the second quarter. Ameriprise Financial Inc. now owns 266,905 shares of the company’s stock valued at $1,740,000 after acquiring an additional 68,876 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Siga Technologies by 744.6% in the third quarter. JPMorgan Chase & Co. now owns 211,055 shares of the company’s stock valued at $1,931,000 after acquiring an additional 186,067 shares during the period. 55.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Siga Technologies from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Siga Technologies in a research note on Friday, October 31st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Siga Technologies Company Profile

SIGA Technologies, Inc, a commercial-stage pharmaceutical company, focuses on the health security related markets in the United States. Its lead product is TPOXX, an oral formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. The company was incorporated in 1995 and is headquartered in New York, New York.