Esperion Therapeutics (NASDAQ:ESPR) Trading Down 4.8% – Here’s Why

Esperion Therapeutics, Inc. (NASDAQ:ESPR) shares were down 4.8% on Tuesday . The stock traded as low as $3.73 and last traded at $3.7050. Approximately 2,118,899 shares changed hands during trading, a decline of 61% from the average daily volume of 5,488,659 shares. The stock had previously closed at $3.89.

Analysts Set New Price Targets

ESPR has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Esperion Therapeutics in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Esperion Therapeutics in a report on Wednesday, October 8th. Wall Street Zen lowered Esperion Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup reissued a “market outperform” rating on shares of Esperion Therapeutics in a report on Wednesday, November 12th. Finally, Piper Sandler initiated coverage on Esperion Therapeutics in a research note on Tuesday, November 25th. They issued an “overweight” rating and a $9.00 target price for the company. 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.20.

Esperion Therapeutics Stock Down 5.0%

The company’s 50-day moving average is $3.37 and its two-hundred day moving average is $2.45. The company has a market capitalization of $883.33 million, a P/E ratio of -7.39 and a beta of 1.00.

Esperion Therapeutics (NASDAQ:ESPR) last released its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The business had revenue of $87.31 million for the quarter, compared to analyst estimates of $78.33 million. On average, sell-side analysts predict that Esperion Therapeutics, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling at Esperion Therapeutics

In related news, CFO Benjamin Halladay sold 7,337 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was 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 in the company, valued at $1,715,816.75. The trade was a 1.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Esperion Therapeutics

A number of hedge funds have recently made changes to their positions in ESPR. North Star Investment Management Corp. purchased a new stake in shares of Esperion Therapeutics in the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of Esperion Therapeutics by 209.2% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 9,430 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 6,380 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Esperion Therapeutics during the 2nd quarter worth approximately $25,000. Vanguard Personalized Indexing Management LLC bought a new position in Esperion Therapeutics during the 3rd quarter worth approximately $29,000. Finally, R Squared Ltd purchased a new position in Esperion Therapeutics in the 3rd quarter worth approximately $33,000. 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.