Esperion Therapeutics (NASDAQ:ESPR) Trading Down 5.2% - Here's What Happened

Key Points

• Shares fell 5.2% to $2.1050 on Tuesday, trading as low as $2.10 on volume of about 3.79 million shares, roughly 28% below the stock's average daily volume.
• Analysts are mixed but generally positive: MarketBeat shows a consensus rating of “Moderate Buy” with an average price target of $7.60 (1 Strong Buy, 5 Buy, 1 Hold, 1 Sell).
• Esperion slightly missed EPS (Q: $0.22 vs. $0.23 est.) while beating revenue ($168.45M vs. $165.12M); the company has a market cap of about $538M and notable institutional buying, with hedge funds building positions and institutions owning ~47% of the stock.

Esperion Therapeutics, Inc. (NASDAQ:ESPR - Get Free Report) shares dropped 5.2% during trading on Tuesday . The stock traded as low as $2.10 and last traded at $2.1050. Approximately 3,792,391 shares were traded during trading, a decline of 28% from the average daily volume of 5,239,936 shares. The stock had previously closed at $2.22.

Analyst Upgrades and Downgrades

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

Esperion Therapeutics Stock Down 5.6%

The stock's fifty day moving average price is $2.92 and its two-hundred day moving average price is $3.15. The company has a market capitalization of $538.02 million, a PE ratio of -12.26, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17.

Esperion Therapeutics (NASDAQ:ESPR - Get Free Report) last posted its 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 firm had revenue of $168.45 million for the quarter, compared to the consensus estimate of $165.12 million. On average, equities research analysts forecast that Esperion Therapeutics, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Esperion Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ESPR. Orbimed Advisors LLC purchased a new position in shares of Esperion Therapeutics during the fourth quarter valued at about $22,072,000. Eversept Partners LP purchased a new position in shares of Esperion Therapeutics during the fourth quarter valued at about $14,249,000. AIGH Capital Management LLC bought a new stake in Esperion Therapeutics during the third quarter worth about $7,950,000. Millennium Management LLC boosted its stake in Esperion Therapeutics by 303.4% during the fourth quarter. Millennium Management LLC now owns 3,932,274 shares of the biopharmaceutical company's stock worth $14,549,000 after acquiring an additional 2,957,418 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Esperion Therapeutics by 117.0% during the fourth quarter. Marshall Wace LLP now owns 5,471,611 shares of the biopharmaceutical company's stock worth $20,245,000 after acquiring an additional 2,950,172 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 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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