Wall Street Zen Upgrades Siga Technologies (NASDAQ:SIGA) to "Strong-Buy"

Key Points

• Siga Technologies has been upgraded to a "strong-buy" rating from a "hold" by Wall Street Zen, reflecting increased analyst confidence in the company's stock.
• As of Friday, Siga Technologies' shares opened at $8.96, with a market capitalization of $641.63 million and a notable 12-month price range between $4.95 and $12.83.
• For the most recent quarter, Siga Technologies reported $0.49 EPS and $81.12 million in revenue, indicating a robust net margin of 45.73%.

Wall Street Zen upgraded shares of Siga Technologies (NASDAQ:SIGA - Free Report) from a hold rating to a strong-buy rating in a research report report published on Saturday.

Siga Technologies Trading Down 4.0%

NASDAQ SIGA traded down $0.38 on Friday, reaching $8.93. The company's stock had a trading volume of 237,957 shares, compared to its average volume of 470,576. The firm has a market cap of $639.12 million, a PE ratio of 7.91 and a beta of 0.94. Siga Technologies has a 52 week low of $4.95 and a 52 week high of $12.83. The business has a 50-day moving average price of $6.80 and a 200 day moving average price of $6.18.

Siga Technologies (NASDAQ:SIGA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.49 earnings per share (EPS) for the quarter. Siga Technologies had a net margin of 45.73% and a return on equity of 40.52%. The company had revenue of $81.12 million for the quarter. Analysts anticipate that Siga Technologies will post 1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC grew its position in shares of Siga Technologies by 14.5% in the 4th quarter. EP Wealth Advisors LLC now owns 13,887 shares of the company's stock valued at $83,000 after acquiring an additional 1,755 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of Siga Technologies by 8.0% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 26,230 shares of the company's stock valued at $144,000 after acquiring an additional 1,938 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Siga Technologies by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 98,525 shares of the company's stock valued at $642,000 after acquiring an additional 2,317 shares during the period. Martingale Asset Management L P grew its position in shares of Siga Technologies by 3.2% in the 1st quarter. Martingale Asset Management L P now owns 86,157 shares of the company's stock valued at $472,000 after acquiring an additional 2,684 shares during the period. Finally, New York State Common Retirement Fund grew its position in shares of Siga Technologies by 0.6% in the 2nd quarter. New York State Common Retirement Fund now owns 593,050 shares of the company's stock valued at $3,867,000 after acquiring an additional 3,430 shares during the period. Institutional investors own 55.40% of the company's stock.

About Siga Technologies

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.