Esperion Therapeutics, Inc. (NASDAQ:ESPR) shares dropped 5.1% during trading on Tuesday . The stock traded as low as $49.35 and last traded at $50.09. Approximately 628,214 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 778,760 shares. The stock had previously closed at $52.77.

ESPR has been the subject of several analyst reports. ValuEngine upgraded Esperion Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Esperion Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Deutsche Bank AG initiated coverage on Esperion Therapeutics in a research note on Friday, June 23rd. They issued a “buy” rating and a $48.00 target price for the company. BidaskClub downgraded Esperion Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Finally, Citigroup Inc. restated a “buy” rating on shares of Esperion Therapeutics in a research note on Thursday, June 22nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $51.65.

The firm’s market cap is $1.13 billion. The firm’s 50 day moving average is $47.47 and its 200-day moving average is $39.05.

Esperion Therapeutics (NASDAQ:ESPR) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by $0.25. During the same period in the previous year, the company earned ($0.62) earnings per share. Equities analysts forecast that Esperion Therapeutics, Inc. will post ($7.33) earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. BB Biotech AG boosted its stake in Esperion Therapeutics by 7.5% during the second quarter. BB Biotech AG now owns 1,513,542 shares of the biopharmaceutical company’s stock valued at $70,047,000 after buying an additional 105,000 shares during the last quarter. State Street Corp raised its position in Esperion Therapeutics by 264.6% during the second quarter. State Street Corp now owns 1,506,514 shares of the biopharmaceutical company’s stock valued at $69,721,000 after purchasing an additional 1,093,292 shares during the period. FMR LLC raised its position in Esperion Therapeutics by 2.3% during the second quarter. FMR LLC now owns 1,338,588 shares of the biopharmaceutical company’s stock valued at $61,950,000 after purchasing an additional 30,000 shares during the period. Boxer Capital LLC purchased a new stake in Esperion Therapeutics during the first quarter valued at approximately $45,020,000. Finally, Discovery Capital Management LLC CT raised its position in Esperion Therapeutics by 152.9% during the second quarter. Discovery Capital Management LLC CT now owns 965,059 shares of the biopharmaceutical company’s stock valued at $44,663,000 after purchasing an additional 583,529 shares during the period. 83.33% of the stock is owned by institutional investors.

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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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