Wasatch Advisors LP Sells 13,838,712 Shares of Esperion Therapeutics, Inc. $ESPR

Wasatch Advisors LP decreased its position in Esperion Therapeutics, Inc. (NASDAQ:ESPR) by 87.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,930,185 shares of the biopharmaceutical company’s stock after selling 13,838,712 shares during the period. Wasatch Advisors LP’s holdings in Esperion Therapeutics were worth $6,099,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Orbimed Advisors LLC purchased a new stake in Esperion Therapeutics in the fourth quarter worth $22,072,000. Eversept Partners LP bought a new stake in shares of Esperion Therapeutics in the fourth quarter valued at $14,249,000. Millennium Management LLC lifted its position in shares of Esperion Therapeutics by 303.4% during 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 last quarter. Marshall Wace LLP lifted its position in shares of Esperion Therapeutics by 117.0% during the 4th quarter. Marshall Wace LLP now owns 5,471,611 shares of the biopharmaceutical company’s stock valued at $20,245,000 after buying an additional 2,950,172 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Esperion Therapeutics by 23.6% during the 4th quarter. Vanguard Group Inc. now owns 14,945,454 shares of the biopharmaceutical company’s stock worth $55,298,000 after acquiring an additional 2,853,005 shares during the period. Hedge funds and other institutional investors own 47.39% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several brokerages recently weighed in on ESPR. Piper Sandler lowered Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Citizens Jmp downgraded shares of Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. HC Wainwright lowered 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. Jefferies Financial Group downgraded shares of Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Esperion Therapeutics in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Esperion Therapeutics has an average rating of “Hold” and an average target price of $5.54.

Esperion Therapeutics Stock Performance

Esperion Therapeutics stock opened at $3.18 on Thursday. Esperion Therapeutics, Inc. has a 1-year low of $1.10 and a 1-year high of $4.18. The firm has a market capitalization of $819.45 million, a PE ratio of -53.00 and a beta of 1.07. The firm’s 50 day simple moving average is $3.17 and its 200 day simple moving average is $2.98.

Esperion Therapeutics 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.