Esperion Therapeutics, Inc. (NASDAQ:ESPR) Sets New 12-Month High After Analyst Upgrade
Shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR) reached a new 52-week high during mid-day trading on Tuesday after Needham & raised their price target on the stock from $58.00 to $72.00. Needham & currently has a positive rating on the stock. Esperion Therapeutics traded as high as $56.44 and last traded at $56.81, with a volume of 2,826,725 shares trading hands. The stock had previously closed at $45.17.
A number of other analysts have also recently issued reports on ESPR. UBS AG reaffirmed a “buy” rating and issued a $57.00 price objective (up from $52.00) on shares of Esperion Therapeutics in a research report on Tuesday, June 27th. BidaskClub cut Esperion Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday. Deutsche Bank AG began coverage on Esperion Therapeutics in a research report on Friday, June 23rd. They issued a “buy” rating and a $48.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective (up from $45.00) on shares of Esperion Therapeutics in a research report on Monday, June 26th. Finally, Zacks Investment Research raised Esperion Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $39.16.
A number of hedge funds have recently added to or reduced their stakes in ESPR. Quantbot Technologies LP purchased a new stake in Esperion Therapeutics during the first quarter valued at $158,000. C WorldWide Group Holding A S purchased a new stake in Esperion Therapeutics during the first quarter valued at $162,000. Princeton Alpha Management LP purchased a new stake in Esperion Therapeutics during the first quarter valued at $205,000. Bank of Montreal Can boosted its stake in Esperion Therapeutics by 1,006.7% in the first quarter. Bank of Montreal Can now owns 6,596 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 6,000 shares during the last quarter. Finally, Aperio Group LLC purchased a new stake in Esperion Therapeutics during the second quarter valued at $249,000. 85.20% of the stock is owned by institutional investors and hedge funds.
The stock’s market capitalization is $1.25 billion. The firm has a 50 day moving average of $44.48 and a 200-day moving average of $33.66.
Esperion Therapeutics (NASDAQ:ESPR) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.92) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.62) by $0.30. During the same period in the prior year, the firm posted ($0.62) earnings per share. Equities analysts predict that Esperion Therapeutics, Inc. will post ($6.69) earnings per share for the current year.
Esperion Therapeutics Company Profile
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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