Indaba Capital Management L.P. Decreases Stock Holdings in Esperion Therapeutics, Inc. (NASDAQ:ESPR)

Indaba Capital Management L.P. decreased its stake in Esperion Therapeutics, Inc. (NASDAQ:ESPR - Free Report) by 91.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,000,000 shares of the biopharmaceutical company's stock after selling 30,750,000 shares during the period. Esperion Therapeutics makes up 3.2% of Indaba Capital Management L.P.'s portfolio, making the stock its 10th largest holding. Indaba Capital Management L.P. owned approximately 1.52% of Esperion Therapeutics worth $6,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cibc World Markets Corp acquired a new stake in shares of Esperion Therapeutics in the fourth quarter worth $39,000. SJS Investment Consulting Inc. acquired a new stake in shares of Esperion Therapeutics in the fourth quarter worth $55,000. SLT Holdings LLC acquired a new stake in shares of Esperion Therapeutics in the fourth quarter worth $66,000. Foundations Investment Advisors LLC boosted its stake in Esperion Therapeutics by 48.6% during the fourth quarter. Foundations Investment Advisors LLC now owns 30,172 shares of the biopharmaceutical company's stock worth $66,000 after buying an additional 9,872 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in Esperion Therapeutics during the fourth quarter worth $66,000. Institutional investors and hedge funds own 47.39% of the company's stock.

Esperion Therapeutics Stock Performance

Shares of NASDAQ ESPR traded down $0.02 during midday trading on Thursday, reaching $0.98. 3,151,909 shares of the company traded hands, compared to its average volume of 5,664,948. The firm has a market cap of $194.98 million, a PE ratio of -1.54 and a beta of 0.86. The stock's 50-day simple moving average is $1.34 and its 200-day simple moving average is $1.94. Esperion Therapeutics, Inc. has a 12 month low of $0.82 and a 12 month high of $3.94.

Analysts Set New Price Targets

A number of research firms have weighed in on ESPR. JMP Securities reiterated a "market outperform" rating and set a $4.00 price target (down previously from $7.00) on shares of Esperion Therapeutics in a research note on Tuesday, February 11th. The Goldman Sachs Group decreased their price target on shares of Esperion Therapeutics from $4.00 to $3.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and set a $5.00 price target on shares of Esperion Therapeutics in a research note on Friday, April 25th. Finally, HC Wainwright reiterated a "buy" rating and set a $16.00 price target on shares of Esperion Therapeutics in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.42.

Esperion Therapeutics Profile

Esperion Therapeutics, Inc, a pharmaceutical company, develops and commercializes medicines for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C). Its marketed products include NEXLETOL (bempedoic acid) and NEXLIZET (bempedoic acid and ezetimibe) tablets that are oral, once-daily, non-statin medicines for the treatment of primary hyperlipidemia in adults with heterozygous familial hypercholesterolemia or atherosclerotic cardiovascular disease who require additional lowering of LDL-C.