Esperion Therapeutics (NASDAQ:ESPR) Trading Up 9.7% – Here’s What Happened

Esperion Therapeutics, Inc. (NASDAQ:ESPR)’s share price shot up 9.7% during trading on Tuesday . The stock traded as high as $2.82 and last traded at $2.8850. 519,162 shares traded hands during trading, a decline of 89% from the average session volume of 4,833,357 shares. The stock had previously closed at $2.63.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ESPR. Citizens Jmp boosted their target price on shares of Esperion Therapeutics from $4.00 to $5.00 and gave the company a “market outperform” rating in a research note on Friday, March 13th. HC Wainwright reaffirmed a “buy” rating on shares of Esperion Therapeutics in a report on Tuesday, March 10th. Needham & Company LLC upped their price objective on shares of Esperion Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Esperion Therapeutics in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Esperion Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Esperion Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $7.60.

Esperion Therapeutics Trading Up 3.6%

The business has a 50-day moving average price of $3.09 and a 200-day moving average price of $3.17. The stock has a market cap of $699.81 million, a PE ratio of -16.26, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

Esperion Therapeutics (NASDAQ:ESPR) last issued its quarterly earnings results on Tuesday, March 10th. The biopharmaceutical company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $168.45 million for the quarter, compared to the consensus estimate of $165.12 million. Equities analysts expect that Esperion Therapeutics, Inc. will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ESPR. Orbimed Advisors LLC acquired a new position in shares of Esperion Therapeutics during the 4th quarter worth about $22,072,000. Eversept Partners LP acquired a new stake in Esperion Therapeutics in the 4th quarter worth about $14,249,000. Two Seas Capital LP increased its stake in Esperion Therapeutics by 43.6% during the 2nd quarter. Two Seas Capital LP now owns 9,954,975 shares of the biopharmaceutical company’s stock worth $9,800,000 after buying an additional 3,024,104 shares in the last quarter. AIGH Capital Management LLC acquired a new position in shares of Esperion Therapeutics during the third quarter valued at approximately $7,950,000. Finally, Millennium Management LLC raised its holdings in shares of Esperion Therapeutics by 303.4% during the fourth quarter. Millennium Management LLC now owns 3,932,274 shares of the biopharmaceutical company’s stock valued at $14,549,000 after acquiring an additional 2,957,418 shares during the last quarter. 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.