Esperion Therapeutics (NASDAQ:ESPR) Trading Down 13.1% – Here’s What Happened

Shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR) dropped 13.1% during trading on Tuesday . The stock traded as low as $2.83 and last traded at $2.84. Approximately 4,245,951 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 4,469,754 shares. The stock had previously closed at $3.27.

Analyst Ratings Changes

Several equities analysts recently weighed in on ESPR shares. Citigroup reiterated a “market outperform” rating on shares of Esperion Therapeutics in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Esperion Therapeutics in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Esperion Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Needham & Company LLC lifted their price objective on shares of Esperion Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Piper Sandler assumed coverage on shares of Esperion Therapeutics in a research note on Tuesday, November 25th. They issued an “overweight” rating and a $9.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Esperion Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

Esperion Therapeutics Trading Down 0.3%

The stock’s 50-day moving average price is $3.44 and its 200-day moving average price is $3.12. The company has a market capitalization of $693.28 million, a P/E ratio of -5.80, a P/E/G ratio of 0.61 and a beta of 1.11.

Insiders Place Their Bets

In related news, CFO Benjamin Halladay sold 7,337 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $3.67, for a total value of $26,926.79. Following the transaction, the chief financial officer directly owned 467,525 shares of the company’s stock, valued at approximately $1,715,816.75. This trade represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 15,543 shares of company stock worth $55,709 in the last 90 days. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ESPR. Jones Financial Companies Lllp bought a new position in shares of Esperion Therapeutics during the 1st quarter worth about $278,000. Sivia Capital Partners LLC acquired a new stake in shares of Esperion Therapeutics in the 2nd quarter valued at $25,000. Summit Wealth Group LLC raised its position in shares of Esperion Therapeutics by 10.2% during the second quarter. Summit Wealth Group LLC now owns 323,000 shares of the biopharmaceutical company’s stock worth $318,000 after acquiring an additional 30,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Esperion Therapeutics by 3.1% during the second quarter. Geode Capital Management LLC now owns 4,583,988 shares of the biopharmaceutical company’s stock valued at $4,513,000 after acquiring an additional 137,691 shares during the period. Finally, Intech Investment Management LLC increased its position in Esperion Therapeutics by 30.4% in the second quarter. Intech Investment Management LLC now owns 123,040 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 28,695 shares during the period. Institutional investors and hedge funds own 47.39% of the company’s stock.

About Esperion Therapeutics

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.