Esperion Therapeutics (NASDAQ:ESPR) had its target price reduced by Stifel Nicolaus from $112.00 to $70.00 in a research report report published on Tuesday morning, AnalystRatings.com reports. They currently have a buy rating on the biopharmaceutical company’s stock.
“We are reiterating our Buy rating and lowering our target price to $70 which reflects a more conservative pre-CVOT BPA/combo sales ramp and higher SG&A assumptions. Even with our more conservative forecasts, we believe ESPR is undervalued at these levels (EV of ~$700 million) as we think the stock continues to reflect investor skepticism on the commercial opportunity for BPA/ combo and the company’s cash runway. We view BPA/combo as a clinically de-risked asset with two upcoming and believe BPA’s CVOT design portends a high probability of success. Further, our recent KOL checks have been consistent with our past discussions (see deep dive) in validating what we believe is a meaningful commercial opportunity for BPA/combo in the statin intolerant population.”,” the firm’s analyst commented.
A number of other analysts also recently issued reports on the stock. Goldman Sachs Group raised shares of Esperion Therapeutics from a sell rating to a neutral rating and cut their price objective for the company from $55.00 to $45.00 in a report on Monday, September 16th. ValuEngine downgraded shares of Esperion Therapeutics from a buy rating to a hold rating in a report on Thursday, September 5th. Citigroup set a $73.00 price objective on shares of Esperion Therapeutics and gave the company a buy rating in a research note on Tuesday, May 28th. BidaskClub downgraded shares of Esperion Therapeutics from a sell rating to a strong sell rating in a research note on Wednesday, July 31st. Finally, Cowen restated a buy rating and issued a $80.00 price target on shares of Esperion Therapeutics in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Esperion Therapeutics has a consensus rating of Hold and a consensus target price of $69.73.
Esperion Therapeutics (NASDAQ:ESPR) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($2.01) EPS for the quarter, missing the consensus estimate of ($1.86) by ($0.15). The business had revenue of $0.98 million for the quarter, compared to analysts’ expectations of $1.05 million. Esperion Therapeutics’s quarterly revenue was up 9720.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.71) earnings per share. On average, equities research analysts predict that Esperion Therapeutics will post -3.02 EPS for the current fiscal year.
In related news, CEO Timothy M. Mayleben acquired 5,000 shares of Esperion Therapeutics stock in a transaction on Friday, June 28th. The shares were acquired at an average cost of $46.00 per share, with a total value of $230,000.00. Following the transaction, the chief executive officer now owns 66,163 shares in the company, valued at $3,043,498. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Target N. V. Biotech bought 50,000 shares of Esperion Therapeutics stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost of $42.65 per share, for a total transaction of $2,132,500.00. Following the completion of the transaction, the insider now directly owns 3,572,964 shares in the company, valued at $152,386,914.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 147,500 shares of company stock valued at $5,521,825 over the last quarter. 7.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Esperion Therapeutics by 27.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,247,286 shares of the biopharmaceutical company’s stock valued at $104,543,000 after acquiring an additional 489,863 shares during the period. BlackRock Inc. increased its holdings in Esperion Therapeutics by 6.8% in the 2nd quarter. BlackRock Inc. now owns 1,983,420 shares of the biopharmaceutical company’s stock worth $92,270,000 after acquiring an additional 125,747 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in Esperion Therapeutics by 13.4% in the 1st quarter. Wasatch Advisors Inc. now owns 637,789 shares of the biopharmaceutical company’s stock worth $25,607,000 after acquiring an additional 75,165 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in Esperion Therapeutics by 13.6% in the 1st quarter. Pictet Asset Management Ltd. now owns 437,518 shares of the biopharmaceutical company’s stock worth $17,566,000 after acquiring an additional 52,467 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in Esperion Therapeutics during the 2nd quarter valued at approximately $17,898,000.
About Esperion Therapeutics
Esperion Therapeutics, Inc, a lipid management company, focuses on developing and commercializing oral therapies for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C). Its lead product candidate is bempedoic acid/ezetimibe combination pill, a non-statin, orally available, LDL-C lowering therapy for patients with hypercholesterolemia and with atherosclerotic cardiovascular disease, and/or heterozygous familial hypercholesterolemia that is in Phase III long-term safety and tolerability study.
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