Esperion Therapeutics (NASDAQ:ESPR) Shares Gap Down - Should You Sell?

Key Points

• Esperion Therapeutics shares gapped down, opening at $2.52 compared to a previous close of $3.09, with significant trading volume of nearly 10 million shares.
• Analysts have mixed ratings, with Weiss Ratings issuing a "sell" rating while Wall Street Zen upgraded to "buy," leading to an overall average rating of "Moderate Buy" and a price target of $7.00.
• The company reported earnings per share of ($0.02), exceeding expectations, and generated revenue of $82.39 million, surpassing analysts' forecast of $62.55 million.

Esperion Therapeutics, Inc. (NASDAQ:ESPR - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.09, but opened at $2.52. Esperion Therapeutics shares last traded at $2.53, with a volume of 9,821,868 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ESPR. Weiss Ratings reiterated a "sell (d-)" rating on shares of Esperion Therapeutics in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of Esperion Therapeutics from a "hold" rating to a "buy" rating in a research note on Friday, September 26th. Finally, HC Wainwright reiterated a "buy" rating and issued a $16.00 target price on shares of Esperion Therapeutics in a research note on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.00.

Esperion Therapeutics Price Performance

The stock has a market cap of $503.04 million, a PE ratio of -5.09, a price-to-earnings-growth ratio of 52.56 and a beta of 0.96. The stock's fifty day moving average is $2.33 and its 200-day moving average is $1.52.

Esperion Therapeutics (NASDAQ:ESPR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.15. The company had revenue of $82.39 million for the quarter, compared to analysts' expectations of $62.55 million. On average, sell-side analysts expect that Esperion Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sanders Morris Harris LLC acquired a new stake in shares of Esperion Therapeutics during the third quarter worth about $53,000. State of Wyoming lifted its position in shares of Esperion Therapeutics by 36.2% during the second quarter. State of Wyoming now owns 122,532 shares of the biopharmaceutical company's stock worth $121,000 after purchasing an additional 32,596 shares in the last quarter. Brevan Howard Capital Management LP lifted its position in shares of Esperion Therapeutics by 139.0% during the second quarter. Brevan Howard Capital Management LP now owns 78,715 shares of the biopharmaceutical company's stock worth $77,000 after purchasing an additional 45,782 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Esperion Therapeutics by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 72,705 shares of the biopharmaceutical company's stock worth $72,000 after purchasing an additional 4,979 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Esperion Therapeutics by 238.3% during the second quarter. Qube Research & Technologies Ltd now owns 485,603 shares of the biopharmaceutical company's stock worth $478,000 after purchasing an additional 342,067 shares in the last quarter. Hedge funds and other institutional investors own 47.39% of the company's stock.

About Esperion Therapeutics

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.

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