Orbimed Advisors LLC Acquires 4,604,802 Shares of Esperion Therapeutics, Inc. $ESPR

Orbimed Advisors LLC grew its holdings in shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR) by 77.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,570,300 shares of the biopharmaceutical company’s stock after buying an additional 4,604,802 shares during the quarter. Orbimed Advisors LLC owned 4.11% of Esperion Therapeutics worth $28,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ESPR. Wasatch Advisors LP lifted its position in Esperion Therapeutics by 66.9% in the 1st quarter. Wasatch Advisors LP now owns 15,768,897 shares of the biopharmaceutical company’s stock valued at $43,207,000 after acquiring an additional 6,323,138 shares in the last quarter. Eversept Partners LP bought a new stake in Esperion Therapeutics during the 4th quarter worth approximately $14,249,000. Millennium Management LLC increased its holdings in Esperion Therapeutics by 303.4% during the 4th quarter. Millennium Management LLC now owns 3,932,274 shares of the biopharmaceutical company’s stock worth $14,549,000 after purchasing an additional 2,957,418 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Esperion Therapeutics by 117.0% in the fourth quarter. Marshall Wace LLP now owns 5,471,611 shares of the biopharmaceutical company’s stock worth $20,245,000 after purchasing an additional 2,950,172 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Esperion Therapeutics by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 14,945,454 shares of the biopharmaceutical company’s stock worth $55,298,000 after purchasing an additional 2,853,005 shares during the last quarter. 47.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ESPR. Citizens Jmp cut Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Esperion Therapeutics in a research report on Tuesday, April 21st. Jefferies Financial Group cut Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Cantor Fitzgerald downgraded shares of Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Needham & Company LLC downgraded shares of Esperion Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Esperion Therapeutics has an average rating of “Hold” and a consensus target price of $5.54.

Esperion Therapeutics Stock Performance

NASDAQ:ESPR opened at $3.18 on Monday. Esperion Therapeutics, Inc. has a 52 week low of $1.10 and a 52 week high of $4.18. The firm has a 50-day moving average price of $3.15 and a two-hundred day moving average price of $3.00. The firm has a market cap of $819.45 million, a price-to-earnings ratio of -53.00 and a beta of 1.07.

Esperion Therapeutics (NASDAQ:ESPR) last announced its earnings results on Friday, May 8th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The business had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $84.52 million. Esperion Therapeutics had a negative return on equity of 0.14% and a net margin of 0.12%.

Insiders Place Their Bets

In other Esperion Therapeutics news, insider Benjamin Looker sold 11,824 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $3.15, for a total value of $37,245.60. Following the completion of the transaction, the insider owned 667,524 shares in the company, valued at $2,102,700.60. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Benjamin Halladay sold 10,773 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $3.15, for a total value of $33,934.95. Following the sale, the chief financial officer directly owned 702,829 shares of the company’s stock, valued at approximately $2,213,911.35. This represents a 1.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% of the company’s stock.

Esperion Therapeutics Profile

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.