SIGA Technologies (NASDAQ:SIGA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage presently has a $10.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 12.74% from the company’s previous close.
According to Zacks, “SIGA Technologies Inc. is applying viral and bacterial genomics and sophisticated computational modeling in the design and development of novel products for the prevention and treatment of serious infectious diseases, with an emphasis on products for biological warfare defense. SIGA believes that it is a leader in the development of pharmaceutical agents and vaccines to fight potential biowarfare pathogens. With broad technology platforms in both vaccines and antibiotics, SIGA’s product development programs emphasize the increasingly serious problem of drug resistant bacteria. In addition to smallpox, SIGA has antiviral programs targeting other Category A pathogens, including arenaviruses, dengue virus, and the filoviruses. “
Separately, TheStreet raised shares of SIGA Technologies from a “c” rating to a “b” rating in a report on Monday, August 23rd.
Several hedge funds and other institutional investors have recently bought and sold shares of SIGA. AltraVue Capital LLC lifted its holdings in shares of SIGA Technologies by 25.7% during the 3rd quarter. AltraVue Capital LLC now owns 2,500,776 shares of the company’s stock worth $18,480,000 after acquiring an additional 512,030 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of SIGA Technologies during the 3rd quarter worth $3,458,000. Globeflex Capital L P bought a new stake in shares of SIGA Technologies during the 2nd quarter worth $2,305,000. Renaissance Technologies LLC lifted its holdings in shares of SIGA Technologies by 34.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,032,017 shares of the company’s stock worth $6,481,000 after acquiring an additional 265,003 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in SIGA Technologies by 4.2% in the third quarter. BlackRock Inc. now owns 4,097,003 shares of the company’s stock worth $30,277,000 after purchasing an additional 164,097 shares during the last quarter. 63.61% of the stock is owned by institutional investors.
SIGA Technologies Company Profile
SIGA Technologies, Inc is a commercial-stage pharmaceutical company which engages in the development and commercialization of solutions for serious unmet medical needs and biothreats. The company develops therapeutic solutions for lethal pathogens including smallpox, Ebola, dengue, Lassa fever, and other dangerous viruses.
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