Esperion Therapeutics (NASDAQ:ESPR) Shares Down 8.6% - Here's Why

Key Points

• Esperion Therapeutics (NASDAQ:ESPR) shares fell about 8.6% to roughly $2.33 on Tuesday, trading as low as $2.34 with ~1.34 million shares changing hands, about 73% below its average daily volume.
• Analysts collectively rate the stock a Moderate Buy (one Strong Buy, five Buy, one Hold, one Sell) with an average price target of $7.60.
• Esperion reported quarterly EPS of $0.22 (missing estimates by $0.01) while revenue of $168.45M beat expectations; the company has a market cap of about $579M and is forecast to post -0.29 EPS for the current year.

Esperion Therapeutics, Inc. (NASDAQ:ESPR - Get Free Report) shares were down 8.6% on Tuesday . The stock traded as low as $2.34 and last traded at $2.33. Approximately 1,344,388 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 5,001,576 shares. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ESPR shares. Citizens Jmp boosted their price target on Esperion Therapeutics from $4.00 to $5.00 and gave the company a "market outperform" rating in a report on Friday, March 13th. HC Wainwright restated a "buy" rating on shares of Esperion Therapeutics in a report on Tuesday, March 10th. Needham & Company LLC upped their price objective on Esperion Therapeutics from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Esperion Therapeutics in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Esperion Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $7.60.

Esperion Therapeutics Trading Down 11.6%

The business's 50-day moving average is $3.05 and its two-hundred day moving average is $3.16. The stock has a market capitalization of $579.11 million, a PE ratio of -13.26, a PEG ratio of 2.12 and a beta of 1.17.

Esperion Therapeutics (NASDAQ:ESPR - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $165.12 million. On average, analysts predict that Esperion Therapeutics, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Esperion Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESPR. Jones Financial Companies Lllp purchased a new position in Esperion Therapeutics in the 1st quarter valued at about $278,000. Sivia Capital Partners LLC purchased a new position in Esperion Therapeutics in the 2nd quarter valued at about $25,000. Geode Capital Management LLC boosted its position in Esperion Therapeutics by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,583,988 shares of the biopharmaceutical company's stock valued at $4,513,000 after buying an additional 137,691 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Esperion Therapeutics by 16.8% in the 2nd quarter. Rhumbline Advisers now owns 275,688 shares of the biopharmaceutical company's stock valued at $271,000 after purchasing an additional 39,658 shares in the last quarter. Finally, Invesco Ltd. raised its stake 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 purchasing an additional 238,449 shares in the last quarter. 47.39% of the stock is owned by hedge funds and other institutional investors.

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.

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