Esperion Therapeutics (NASDAQ:ESPR) Shares Up 7.8% on Analyst Upgrade

Shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR) were up 7.8% during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $2.66 and last traded at $2.63. Approximately 1,083,002 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 4,906,418 shares. The stock had previously closed at $2.44.

Other analysts also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating on shares of Esperion Therapeutics in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Esperion Therapeutics in a report on Thursday, January 22nd. Citizens Jmp raised their price objective on Esperion Therapeutics from $4.00 to $5.00 and gave the company a “market outperform” rating in a research report on Friday. Needham & Company LLC boosted their target price on Esperion Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, Piper Sandler began coverage on Esperion Therapeutics in a research note on Tuesday, November 25th. They set an “overweight” rating and a $9.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.60.

Insider Activity at Esperion Therapeutics

In other news, CFO Benjamin Halladay sold 7,337 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $3.67, for a total transaction of $26,926.79. Following the transaction, the chief financial officer owned 467,525 shares of the company’s stock, valued at approximately $1,715,816.75. The trade was a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 15,543 shares of company stock valued at $55,709. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ESPR. Orbimed Advisors LLC bought a new position in Esperion Therapeutics during the fourth quarter valued at $22,072,000. Eversept Partners LP bought a new stake in shares of Esperion Therapeutics in the 4th quarter worth about $14,249,000. Two Seas Capital LP boosted its stake in shares of Esperion Therapeutics by 43.6% during the 2nd quarter. Two Seas Capital LP now owns 9,954,975 shares of the biopharmaceutical company’s stock worth $9,800,000 after purchasing an additional 3,024,104 shares during the period. AIGH Capital Management LLC purchased a new position in shares of Esperion Therapeutics during the 3rd quarter worth about $7,950,000. Finally, Millennium Management LLC grew 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 valued at $14,549,000 after purchasing an additional 2,957,418 shares during the last quarter. 47.39% of the stock is owned by hedge funds and other institutional investors.

Esperion Therapeutics Trading Up 5.1%

The company has a market capitalization of $658.72 million, a PE ratio of -15.09, a price-to-earnings-growth ratio of 1.75 and a beta of 1.11. The stock’s 50-day moving average is $3.28 and its two-hundred day moving average is $3.15.

Esperion Therapeutics (NASDAQ:ESPR) last announced its earnings results on Tuesday, March 10th. The biopharmaceutical company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $168.45 million during the quarter, compared to analyst estimates of $165.12 million. On average, equities research analysts forecast that Esperion Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Esperion Therapeutics Company 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.