Esperion Therapeutics Sees Unusually Large Options Volume (NASDAQ:ESPR)

Key Points

• Esperion Therapeutics saw unusually heavy options activity on Friday, with 8,380 call options traded — about 239% above the average volume of 2,470 calls.
• Two insiders sold shares: Benjamin Looker sold 11,824 shares and CFO Benjamin Halladay sold 10,773 shares, both at $3.15 per share.
• The stock edged lower but traded above average volume, closing at $3.19, while analysts currently rate ESPR a consensus Hold with an average price target of $5.54.

Esperion Therapeutics, Inc. (NASDAQ:ESPR - Get Free Report) was the target of some unusual options trading activity on Friday. Stock investors purchased 8,380 call options on the company. This represents an increase of approximately 239% compared to the average volume of 2,470 call options.

Insider Buying and Selling at Esperion Therapeutics

In other Esperion Therapeutics news, insider Benjamin Looker sold 11,824 shares of Esperion Therapeutics stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $3.15, for a total transaction of $37,245.60. Following the completion of the sale, the insider directly owned 667,524 shares in the company, valued at approximately $2,102,700.60. The trade was a 1.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Benjamin Halladay sold 10,773 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $3.15, for a total transaction of $33,934.95. Following the transaction, the chief financial officer owned 702,829 shares of the company's stock, valued at $2,213,911.35. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Esperion Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP grew its stake in shares of Esperion Therapeutics by 66.9% during the first quarter. Wasatch Advisors LP now owns 15,768,897 shares of the biopharmaceutical company's stock worth $43,207,000 after purchasing an additional 6,323,138 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Esperion Therapeutics by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 14,945,454 shares of the biopharmaceutical company's stock valued at $55,298,000 after acquiring an additional 2,853,005 shares during the period. Two Seas Capital LP boosted its stake in Esperion Therapeutics by 22.1% during the 4th quarter. Two Seas Capital LP now owns 11,902,521 shares of the biopharmaceutical company's stock worth $44,039,000 after purchasing an additional 2,152,797 shares during the period. Orbimed Advisors LLC increased its position in Esperion Therapeutics by 77.2% in the 1st quarter. Orbimed Advisors LLC now owns 10,570,300 shares of the biopharmaceutical company's stock valued at $28,963,000 after acquiring an additional 4,604,802 shares during the period. Finally, State Street Corp lifted its holdings in shares of Esperion Therapeutics by 32.4% during the fourth quarter. State Street Corp now owns 5,930,296 shares of the biopharmaceutical company's stock worth $21,942,000 after purchasing an additional 1,451,462 shares during the period. 47.39% of the stock is owned by institutional investors and hedge funds.

Esperion Therapeutics Stock Down 0.2%

Shares of ESPR traded down $0.01 during trading on Friday, reaching $3.19. 11,011,249 shares of the company traded hands, compared to its average volume of 9,698,272. The stock has a market cap of $820.74 million, a PE ratio of -53.08 and a beta of 1.07. Esperion Therapeutics has a twelve month low of $1.10 and a twelve month high of $4.18. The stock has a 50-day simple moving average of $3.10 and a 200-day simple moving average of $3.05.

Esperion Therapeutics (NASDAQ:ESPR - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). Esperion Therapeutics had a negative return on equity of 0.14% and a net margin of 0.12%.The firm had revenue of $80.10 million for the quarter, compared to analyst estimates of $84.52 million.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Piper Sandler downgraded Esperion Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, May 1st. Wall Street Zen upgraded Esperion Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. HC Wainwright cut shares of Esperion Therapeutics from a "buy" rating to a "neutral" rating and set a $3.16 target price for the company. in a research report on Friday, May 1st. Citizens Jmp lowered shares of Esperion Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Esperion Therapeutics in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Esperion Therapeutics currently has an average rating of "Hold" and an average price target of $5.54.

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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