Esperion Therapeutics, Inc. (ESPR) Hits New 12-Month High on Analyst Upgrade

Esperion Therapeutics, Inc. (NASDAQ:ESPR) shares reached a new 52-week high on Tuesday after Jefferies Group upgraded the stock from a hold rating to a buy rating. Jefferies Group now has a $55.00 price target 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 research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Esperion Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. ValuEngine raised shares of Esperion Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. reissued a “buy” rating on shares of Esperion Therapeutics in a research report on Thursday, June 22nd. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (up from $45.00) on shares of Esperion Therapeutics in a research report on Monday, June 26th. Finally, Deutsche Bank AG initiated coverage on shares of Esperion Therapeutics in a research report on Friday, June 23rd. They set a “buy” rating and a $48.00 target price for the company. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Esperion Therapeutics presently has an average rating of “Buy” and an average target price of $40.39.

Hedge funds have recently made changes to their positions in the stock. Boxer Capital LLC acquired a new stake in shares of Esperion Therapeutics during the first quarter worth approximately $45,020,000. RA Capital Management LLC purchased a new stake in Esperion Therapeutics during the first quarter valued at about $24,883,000. Pinnacle Associates Ltd. boosted its stake in Esperion Therapeutics by 561.6% in the first quarter. Pinnacle Associates Ltd. now owns 770,618 shares of the biopharmaceutical company’s stock valued at $27,211,000 after buying an additional 654,138 shares in the last quarter. Meditor Group Ltd purchased a new stake in Esperion Therapeutics during the second quarter valued at about $26,194,000. Finally, FMR LLC boosted its stake in Esperion Therapeutics by 70.8% in the first quarter. FMR LLC now owns 1,308,588 shares of the biopharmaceutical company’s stock valued at $46,206,000 after buying an additional 542,579 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

The stock’s market cap is $1.14 billion. The stock has a 50 day moving average of $45.38 and a 200-day moving average of $33.91.

Esperion Therapeutics (NASDAQ:ESPR) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by $0.25. During the same quarter in the prior year, the company posted ($0.62) EPS. On average, equities analysts anticipate that Esperion Therapeutics, Inc. will post ($7.18) earnings per share 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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