HC Wainwright Reiterates “Buy” Rating for Esperion Therapeutics (NASDAQ:ESPR)

HC Wainwright reaffirmed their buy rating on shares of Esperion Therapeutics (NASDAQ:ESPR) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the biopharmaceutical company’s stock.

ESPR has been the topic of a number of other research reports. StockNews.com cut Esperion Therapeutics from a strong-buy rating to a buy rating in a research note on Friday, May 17th. Bank of America cut Esperion Therapeutics from a neutral rating to an underperform rating and reduced their target price for the company from $2.90 to $2.50 in a research note on Thursday, June 20th. Finally, Needham & Company LLC reissued a buy rating and issued a $8.00 target price on shares of Esperion Therapeutics in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Esperion Therapeutics has an average rating of Hold and a consensus target price of $8.83.

Esperion Therapeutics Stock Performance

Esperion Therapeutics stock opened at $2.34 on Friday. The stock has a market cap of $443.34 million, a P/E ratio of -2.36 and a beta of 1.02. Esperion Therapeutics has a fifty-two week low of $0.70 and a fifty-two week high of $3.40. The firm’s fifty day moving average price is $2.32 and its 200-day moving average price is $2.41.

Esperion Therapeutics (NASDAQ:ESPR) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.34 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.42. The firm had revenue of $137.74 million during the quarter, compared to the consensus estimate of $53.11 million. Sell-side analysts predict that Esperion Therapeutics will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Portfolio Partners LLC bought a new position in shares of Esperion Therapeutics during the fourth quarter valued at about $30,000. Herbst Group LLC bought a new position in shares of Esperion Therapeutics during the first quarter valued at about $28,000. CVI Holdings LLC bought a new position in shares of Esperion Therapeutics during the first quarter valued at about $37,000. Simplicity Wealth LLC bought a new position in shares of Esperion Therapeutics during the first quarter valued at about $44,000. Finally, PSI Advisors LLC boosted its holdings in shares of Esperion Therapeutics by 161.5% during the fourth quarter. PSI Advisors LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 10,500 shares during the period. 47.39% of the stock is owned by institutional investors.

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.