Esperion Therapeutics (NASDAQ:ESPR) Stock Price Down 7.6% – Here’s What Happened

Esperion Therapeutics, Inc. (NASDAQ:ESPR)’s stock price was down 7.6% during trading on Wednesday . The stock traded as low as $2.50 and last traded at $2.5050. Approximately 1,321,978 shares were traded during trading, a decline of 73% from the average daily volume of 4,917,843 shares. The stock had previously closed at $2.71.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ESPR shares. Needham & Company LLC lifted their price objective on shares of Esperion Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Piper Sandler assumed coverage on Esperion Therapeutics in a research report on Tuesday, November 25th. They set an “overweight” rating and a $9.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Esperion Therapeutics in a research report on Thursday, January 22nd. Citizens Jmp boosted their price objective on shares of Esperion Therapeutics from $4.00 to $5.00 and gave the stock a “market outperform” rating in a research note on Friday, March 13th. Finally, Wall Street Zen raised shares of Esperion Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Esperion Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $7.60.

Esperion Therapeutics Price Performance

The stock’s 50-day moving average price is $3.23 and its 200 day moving average price is $3.16. The firm has a market capitalization of $638.17 million, a PE ratio of -14.38, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11.

Esperion Therapeutics (NASDAQ:ESPR) last announced its quarterly earnings data on Tuesday, March 10th. The biopharmaceutical company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $168.45 million during the quarter, compared to the consensus estimate of $165.12 million. Equities research analysts forecast that Esperion Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Esperion Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Orbimed Advisors LLC purchased a new stake in shares of Esperion Therapeutics in the 4th quarter valued at $22,072,000. Eversept Partners LP acquired a new stake in shares of Esperion Therapeutics in the fourth quarter valued at about $14,249,000. Two Seas Capital LP increased its stake in shares of Esperion Therapeutics by 43.6% during the second quarter. Two Seas Capital LP now owns 9,954,975 shares of the biopharmaceutical company’s stock worth $9,800,000 after purchasing an additional 3,024,104 shares in the last quarter. AIGH Capital Management LLC acquired a new position in shares of Esperion Therapeutics during the 3rd quarter worth about $7,950,000. Finally, Millennium Management LLC increased its position 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 purchasing an additional 2,957,418 shares during the last quarter. Institutional investors and hedge funds 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.