Esperion Therapeutics (NASDAQ:ESPR) had its price objective lowered by Stifel Nicolaus from $112.00 to $70.00 in a research report report published on Tuesday, AnalystRatings.com reports. The firm currently has 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 wrote.
Several other research analysts have also recently commented on ESPR. ValuEngine cut shares of Esperion Therapeutics from a buy rating to a hold rating in a report on Thursday, September 5th. Goldman Sachs Group raised shares of Esperion Therapeutics from a sell rating to a neutral rating and dropped their price target for the stock from $55.00 to $45.00 in a research report on Monday. Cowen reaffirmed a buy rating and set a $80.00 price target on shares of Esperion Therapeutics in a research report on Thursday, July 18th. Northland Securities reaffirmed a buy rating on shares of Esperion Therapeutics in a research report on Thursday, August 29th. Finally, BidaskClub lowered shares of Esperion Therapeutics from a sell rating to a strong sell rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $69.73.
Esperion Therapeutics (NASDAQ:ESPR) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($2.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.86) by ($0.15). The company had revenue of $0.98 million for the quarter, compared to analyst estimates of $1.05 million. During the same period last year, the firm earned ($1.71) EPS. The company’s revenue was up 9720.0% compared to the same quarter last year. Equities research analysts anticipate that Esperion Therapeutics will post -3.02 earnings per share for the current year.
In related news, major shareholder Target N. V. Biotech acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $42.65 per share, with a total value of $2,132,500.00. Following the completion of the transaction, the insider now directly owns 3,572,964 shares of the company’s stock, valued at $152,386,914.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Timothy M. Mayleben acquired 5,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $46.00 per share, for a total transaction of $230,000.00. Following the completion of the transaction, the chief executive officer now directly owns 66,163 shares of the company’s stock, valued at $3,043,498. The disclosure for this purchase can be found here. Insiders have acquired 147,500 shares of company stock worth $5,521,825 over the last ninety days. Insiders own 7.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Natixis raised its position in shares of Esperion Therapeutics by 72.9% in the second quarter. Natixis now owns 21,563 shares of the biopharmaceutical company’s stock valued at $1,003,000 after purchasing an additional 9,095 shares during the period. Royal Bank of Canada raised its position in shares of Esperion Therapeutics by 38.1% in the second quarter. Royal Bank of Canada now owns 2,938 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 811 shares during the period. Verition Fund Management LLC bought a new position in shares of Esperion Therapeutics in the second quarter valued at about $225,000. ClariVest Asset Management LLC bought a new position in shares of Esperion Therapeutics in the second quarter valued at about $4,139,000. Finally, Bamco Inc. NY raised its position in shares of Esperion Therapeutics by 2.7% in the second quarter. Bamco Inc. NY now owns 188,500 shares of the biopharmaceutical company’s stock valued at $8,769,000 after purchasing an additional 5,000 shares during the period.
Esperion Therapeutics Company Profile
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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