Esperion Therapeutics (NASDAQ:ESPR) Shares Gap Up - Here's What Happened

Key Points

• Esperion Therapeutics shares rose slightly, opening at $2.83 after closing at $2.75, with a last traded price of $2.86 and a trading volume of over 2.7 million shares.
• Wall Street analysts have mixed ratings for Esperion, with HC Wainwright maintaining a buy rating and a price target of $16, while others have shifted to a hold rating, resulting in a consensus rating of "Moderate Buy."
• The company reported earnings of ($0.02) per share, exceeding expectations, and generated revenues of $82.39 million in the last quarter, significantly above analysts’ forecast of $62.55 million.

Esperion Therapeutics, Inc. (NASDAQ:ESPR - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.75, but opened at $2.83. Esperion Therapeutics shares last traded at $2.86, with a volume of 2,724,429 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ESPR shares. HC Wainwright reissued a "buy" rating and issued a $16.00 price objective on shares of Esperion Therapeutics in a report on Friday. Wall Street Zen lowered Esperion Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.00.

Esperion Therapeutics Trading Down 5.6%

The company has a fifty day moving average price of $2.00 and a 200 day moving average price of $1.43.

Esperion Therapeutics (NASDAQ:ESPR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.15. Esperion Therapeutics had a negative return on equity of 0.91% and a negative net margin of 35.84%.The business had revenue of $82.39 million during the quarter, compared to analyst estimates of $62.55 million. On average, sell-side analysts predict that Esperion Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Esperion Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ESPR. State of Wyoming increased its stake in shares of Esperion Therapeutics by 36.2% in the second quarter. State of Wyoming now owns 122,532 shares of the biopharmaceutical company's stock worth $121,000 after acquiring an additional 32,596 shares during the last quarter. Brevan Howard Capital Management LP lifted its stake in 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 during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Esperion Therapeutics by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 72,705 shares of the biopharmaceutical company's stock valued at $72,000 after purchasing an additional 4,979 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Esperion Therapeutics by 238.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 485,603 shares of the biopharmaceutical company's stock worth $478,000 after acquiring an additional 342,067 shares during the period. Finally, Diametric Capital LP grew its holdings in shares of Esperion Therapeutics by 57.8% in the 2nd quarter. Diametric Capital LP now owns 678,824 shares of the biopharmaceutical company's stock valued at $668,000 after buying an additional 248,648 shares during the period. Institutional investors and hedge funds 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.