Esperion Therapeutics (NASDAQ:ESPR) Shares Cross Below 200 Day Moving Average - Here's What Happened

Key Points

• Esperion shares crossed below its 200-day moving average of $3.11, trading as low as $1.8850 and last at $1.97 on volume of about 9.83 million shares, signaling a bearish technical move.
• Analysts maintain a consensus "Moderate Buy" with a consensus price target of $8.75 (one Strong Buy, five Buy, one Sell), though some firms recently raised nearer-term targets only to about $5 and one firm reiterated a sell.
• Fundamentally, Esperion reported quarterly EPS of $0.22 versus estimates of $0.23 (missing by $0.01) while revenue of $168.45 million slightly beat the $165.12 million estimate.

Esperion Therapeutics, Inc. (NASDAQ:ESPR - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.11 and traded as low as $1.8850. Esperion Therapeutics shares last traded at $1.97, with a volume of 9,828,639 shares.

Analysts Set New Price Targets

ESPR has been the topic of several analyst reports. HC Wainwright reissued a "buy" rating on shares of Esperion Therapeutics in a research note on Tuesday, March 10th. Wall Street Zen upgraded Esperion Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. Citizens Jmp raised their price target on Esperion Therapeutics from $4.00 to $5.00 and gave the stock a "market outperform" rating in a research report on Friday, March 13th. Needham & Company LLC lifted their price objective on shares of Esperion Therapeutics from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Esperion Therapeutics in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Esperion Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.75.

Esperion Therapeutics Price Performance

The stock's fifty day moving average price is $2.73 and its 200 day moving average price is $3.11. The stock has a market capitalization of $507.09 million, a P/E ratio of -11.59, a PEG ratio of 1.56 and a beta of 1.17.

Esperion Therapeutics (NASDAQ:ESPR - Get Free Report) last announced its quarterly earnings data on Tuesday, March 10th. The biopharmaceutical company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The company had revenue of $168.45 million for the quarter, compared to the consensus estimate of $165.12 million. On average, sell-side analysts expect that Esperion Therapeutics, Inc. will post 0.05 earnings per share for the current year.

Institutional Trading of Esperion Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ESPR. Jones Financial Companies Lllp purchased a new position in Esperion Therapeutics during the 1st quarter valued at about $278,000. Sivia Capital Partners LLC bought a new position in Esperion Therapeutics in the second quarter worth approximately $25,000. Geode Capital Management LLC lifted its holdings in Esperion Therapeutics by 3.1% during the second quarter. Geode Capital Management LLC now owns 4,583,988 shares of the biopharmaceutical company's stock worth $4,513,000 after buying an additional 137,691 shares during the period. Rhumbline Advisers boosted its position in Esperion Therapeutics by 16.8% during the 2nd quarter. Rhumbline Advisers now owns 275,688 shares of the biopharmaceutical company's stock valued at $271,000 after acquiring an additional 39,658 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Esperion Therapeutics by 93.3% in the 2nd quarter. Invesco Ltd. now owns 493,929 shares of the biopharmaceutical company's stock valued at $486,000 after acquiring an additional 238,449 shares during the period. 47.39% of the stock is currently owned by institutional investors.

About Esperion Therapeutics

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.

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