Esperion Therapeutics (NASDAQ:ESPR) Shares Down 5.1% – Here’s Why

Esperion Therapeutics, Inc. (NASDAQ:ESPR)’s stock price dropped 5.1% during trading on Tuesday . The stock traded as low as $2.84 and last traded at $2.8850. Approximately 4,138,320 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 4,720,178 shares. The stock had previously closed at $3.04.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC increased their target price on shares of Esperion Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Citigroup restated a “market outperform” rating on shares of Esperion Therapeutics in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Esperion Therapeutics in a research note on Thursday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Esperion Therapeutics in a research note on Wednesday, November 12th. Finally, Wall Street Zen downgraded Esperion Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.25.

Esperion Therapeutics Stock Down 9.3%

The stock has a fifty day moving average of $3.37 and a 200-day moving average of $3.14. The firm has a market capitalization of $659.33 million, a P/E ratio of -5.47, a PEG ratio of 0.56 and a beta of 1.11.

Esperion Therapeutics (NASDAQ:ESPR) last issued its quarterly earnings data on Tuesday, March 10th. The biopharmaceutical company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $168.45 million for the quarter, compared to the consensus estimate of $165.12 million. As a group, analysts forecast that Esperion Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Insider Activity at Esperion Therapeutics

In related news, CFO Benjamin Halladay sold 7,337 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $3.67, for a total value of $26,926.79. Following the completion of the sale, the chief financial officer owned 467,525 shares of the company’s stock, valued at $1,715,816.75. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 15,543 shares of company stock worth $55,709 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Orbimed Advisors LLC bought a new stake in shares of Esperion Therapeutics during the fourth quarter worth $22,072,000. Eversept Partners LP acquired a new stake in Esperion Therapeutics in the fourth quarter worth about $14,249,000. Two Seas Capital LP increased its position in Esperion Therapeutics by 43.6% in 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 during the period. AIGH Capital Management LLC bought a new stake in Esperion Therapeutics during the 3rd quarter worth about $7,950,000. Finally, Millennium Management LLC raised its holdings in Esperion Therapeutics by 303.4% during the 4th 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. 47.39% of the stock is currently owned by institutional investors.

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.