Orbimed Advisors LLC Buys 4,604,802 Shares of Esperion Therapeutics, Inc. $ESPR

Orbimed Advisors LLC lifted its stake in shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR) by 77.2% in the 1st quarter, HoldingsChannel reports. The firm owned 10,570,300 shares of the biopharmaceutical company’s stock after buying an additional 4,604,802 shares during the quarter. Orbimed Advisors LLC’s holdings in Esperion Therapeutics were worth $28,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Sivia Capital Partners LLC purchased a new position in Esperion Therapeutics in the second quarter valued at approximately $25,000. Kestra Advisory Services LLC bought a new stake in shares of Esperion Therapeutics in the fourth quarter valued at $35,000. KFG Wealth Management LLC bought a new stake in shares of Esperion Therapeutics in the fourth quarter valued at $37,000. Cary Street Partners Financial LLC purchased a new position in shares of Esperion Therapeutics during the 4th quarter valued at $38,000. Finally, Larson Financial Group LLC purchased a new position in shares of Esperion Therapeutics during the 4th quarter valued at $39,000. Institutional investors own 47.39% of the company’s stock.

Insider Transactions at Esperion Therapeutics

In other news, CFO Benjamin Halladay sold 10,773 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $3.15, for a total transaction of $33,934.95. Following the sale, the chief financial officer directly owned 702,829 shares in the company, valued at $2,213,911.35. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Benjamin Looker sold 11,824 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $3.15, for a total transaction of $37,245.60. Following the completion of the sale, the insider directly owned 667,524 shares in the company, valued at approximately $2,102,700.60. The trade was a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by insiders.

Esperion Therapeutics Price Performance

Esperion Therapeutics stock opened at $3.18 on Monday. The firm has a market capitalization of $819.45 million, a P/E ratio of -53.00 and a beta of 1.07. Esperion Therapeutics, Inc. has a one year low of $1.10 and a one year high of $4.18. The business has a fifty day moving average price of $3.15 and a 200-day moving average price of $3.00.

Esperion Therapeutics (NASDAQ:ESPR) last released its quarterly earnings data on Friday, May 8th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The company had revenue of $80.10 million for the quarter, compared to the consensus estimate of $84.52 million. Esperion Therapeutics had a net margin of 0.12% and a negative return on equity of 0.14%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ESPR shares. Cantor Fitzgerald downgraded Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Esperion Therapeutics in a report on Tuesday, April 21st. Needham & Company LLC lowered shares of Esperion Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 4th. Jefferies Financial Group downgraded shares of Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, HC Wainwright lowered shares of Esperion Therapeutics from a “buy” rating to a “neutral” rating and set a $3.16 price target on the stock. in a research report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Esperion Therapeutics currently has an average rating of “Hold” and an average price target of $5.54.

Esperion Therapeutics Company Profile

Esperion Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of oral, low–density lipoprotein cholesterol (LDL-C)–lowering therapies. The company’s research and development efforts center on small-molecule compounds designed to address atherosclerotic cardiovascular disease by targeting cholesterol biosynthesis pathways. Esperion seeks to provide novel treatment options for patients who require additional LDL-C reduction beyond what is achieved with statins or who are statin-intolerant.

The company’s lead products include NEXLETOL (bempedoic acid), an oral adenosine triphosphate–citrate lyase (ACL) inhibitor approved by the U.S.