Esperion Therapeutics Inc (ESPR) Reaches New 1-Year High After Analyst Upgrade
Shares of Esperion Therapeutics Inc (NASDAQ:ESPR) hit a new 52-week high during trading on Monday after Needham & Company raised their price target on the stock to $58.00. The company traded as high as $37.07 and last traded at $37.07, with a volume of 14,983,230 shares. The stock had previously closed at $23.67.
A number of other analysts have also commented on the company. Credit Suisse Group AG raised Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday. Citigroup Inc set a $39.00 price target on Esperion Therapeutics and gave the stock a “buy” rating in a research note on Monday, March 13th. Zacks Investment Research raised Esperion Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, March 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $30.00 price target (up previously from $20.00) on shares of Esperion Therapeutics in a research note on Thursday, February 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $28.24.
Several institutional investors have recently modified their holdings of the stock. Virginia Retirement Systems ET AL bought a new position in shares of Esperion Therapeutics during the third quarter valued at $242,000. JPMorgan Chase & Co. increased its position in shares of Esperion Therapeutics by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 181,400 shares of the biopharmaceutical company’s stock valued at $2,512,000 after buying an additional 39,239 shares during the last quarter. Advisor Group Inc. increased its position in shares of Esperion Therapeutics by 0.6% in the third quarter. Advisor Group Inc. now owns 14,437 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 85 shares during the last quarter. BB Biotech AG increased its position in shares of Esperion Therapeutics by 29.7% in the third quarter. BB Biotech AG now owns 1,308,542 shares of the biopharmaceutical company’s stock valued at $18,123,000 after buying an additional 300,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Esperion Therapeutics by 54.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,220 shares of the biopharmaceutical company’s stock valued at $504,000 after buying an additional 14,257 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.
The firm’s 50-day moving average is $23.80 and its 200 day moving average is $15.00. The company’s market capitalization is $847.17 million.
Esperion Therapeutics (NASDAQ:ESPR) last released its earnings results on Wednesday, February 22nd. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.24) by $0.05. During the same quarter in the previous year, the company earned ($0.58) earnings per share. Analysts anticipate that Esperion Therapeutics Inc will post ($6.04) EPS for the current fiscal year.
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About Esperion Therapeutics
Esperion Therapeutics, Inc is a lipid management company. The Company is a late-stage pharmaceutical company focused on developing and commercializing once-daily, oral therapies for the treatment of patients with elevated low-density lipoprotein cholesterol (LDL-C). With a targeted mechanism of action, bempedoic acid, the Company’s lead product candidate, is an orally available, once-daily adenosine triphosphate (ATP)-citrate lyase (ACL) inhibitor that reduces cholesterol biosynthesis and lowers elevated levels of LDL-C by up-regulating the LDL receptor, but with reduced potential for muscle-related side effects.
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