Esperion Therapeutics (NASDAQ:ESPR) Trading Up 9.7% - Here's What Happened

Key Points

• Shares rose 9.7% during mid-day trading to $2.8850 (traded as high as $2.82) on roughly 519,162 shares, about an 89% decline in volume versus its average daily trading volume.
• Analyst sentiment is mixed but tilted positive — the stock has an average rating of "Moderate Buy" with an average price target of $7.60; recent updates include several firms raising targets to $5 and a mix of 1 Strong Buy, 5 Buy, 1 Hold, and 1 Sell ratings.
• Company fundamentals show a market cap of about $699.8 million; Esperion reported Q results with EPS of $0.22 (missed by $0.01) and revenue of $168.45 million (beat estimates), while institutional investors have been adding positions and hedge funds now own 47.39% of the stock.

Esperion Therapeutics, Inc. (NASDAQ:ESPR - Get Free Report)'s share price rose 9.7% during mid-day trading on Tuesday . The company traded as high as $2.82 and last traded at $2.8850. Approximately 519,162 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,833,357 shares. The stock had previously closed at $2.63.

Wall Street Analysts Forecast Growth

ESPR has been the subject of several recent analyst reports. Needham & Company LLC increased their target price on shares of Esperion Therapeutics from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Esperion Therapeutics in a report on Thursday, January 22nd. Wall Street Zen raised Esperion Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. Citizens Jmp raised their price objective 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. Finally, HC Wainwright restated a "buy" rating on shares of Esperion Therapeutics in a research note on Tuesday, March 10th. One investment 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.60.

Esperion Therapeutics Stock Performance

The company has a market capitalization of $699.81 million, a price-to-earnings ratio of -16.26, a PEG ratio of 1.97 and a beta of 1.11. The business's 50 day moving average is $3.09 and its 200 day moving average is $3.17.

Esperion Therapeutics (NASDAQ:ESPR - Get Free Report) last issued its quarterly earnings results on Tuesday, March 10th. The biopharmaceutical company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The business had revenue of $168.45 million for the quarter, compared to analyst estimates of $165.12 million. Sell-side analysts predict that Esperion Therapeutics, Inc. will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Orbimed Advisors LLC purchased a new stake in Esperion Therapeutics in the fourth quarter valued at $22,072,000. Eversept Partners LP acquired a new stake in Esperion Therapeutics during the 4th quarter worth about $14,249,000. Two Seas Capital LP raised its stake in shares of Esperion Therapeutics by 43.6% during the 2nd quarter. Two Seas Capital LP now owns 9,954,975 shares of the biopharmaceutical company's stock valued at $9,800,000 after buying an additional 3,024,104 shares during the last quarter. AIGH Capital Management LLC acquired a new position in shares of Esperion Therapeutics in the 3rd quarter valued at about $7,950,000. Finally, Millennium Management LLC lifted its holdings in shares of Esperion Therapeutics by 303.4% in the 4th quarter. Millennium Management LLC now owns 3,932,274 shares of the biopharmaceutical company's stock valued at $14,549,000 after buying an additional 2,957,418 shares during the period. 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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