Esperion Therapeutics (NASDAQ:ESPR) Shares Gap Up – Here’s What Happened

Esperion Therapeutics, Inc. (NASDAQ:ESPR) gapped up before the market opened on Friday . The stock had previously closed at $3.70, but opened at $3.86. Esperion Therapeutics shares last traded at $3.8350, with a volume of 519,721 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on ESPR shares. Wall Street Zen upgraded shares of Esperion Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup restated a “market outperform” rating on shares of Esperion Therapeutics in a research report on Wednesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Esperion Therapeutics in a report on Wednesday, November 12th. Piper Sandler initiated coverage on Esperion Therapeutics in a research report on Tuesday, November 25th. They set an “overweight” rating and a $9.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Esperion Therapeutics in a research note on Friday, September 19th. One research 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’s stock. According to data from MarketBeat.com, Esperion Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $7.20.

Esperion Therapeutics Stock Up 0.3%

The business has a fifty day moving average of $3.44 and a 200 day moving average of $2.51. The firm has a market cap of $886.91 million, a P/E ratio of -7.42, a P/E/G ratio of 11.36 and a beta of 1.04.

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

Insiders Place Their Bets

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 shares were sold at an average price of $3.67, for a total transaction of $26,926.79. Following the completion of the transaction, the chief financial officer owned 467,525 shares in the company, valued at approximately $1,715,816.75. The trade was a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Esperion Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ESPR. Vanguard Group Inc. increased its position in shares of Esperion Therapeutics by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,092,449 shares of the biopharmaceutical company’s stock valued at $32,045,000 after buying an additional 375,620 shares in the last quarter. Two Seas Capital LP increased its holdings in shares of 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 acquiring an additional 3,024,104 shares in the last quarter. Marshall Wace LLP raised its position in shares of Esperion Therapeutics by 46.2% during the second quarter. Marshall Wace LLP now owns 5,312,252 shares of the biopharmaceutical company’s stock worth $5,206,000 after purchasing an additional 1,679,294 shares during the period. Geode Capital Management LLC raised its position in shares of Esperion Therapeutics by 3.1% during the second quarter. Geode Capital Management LLC now owns 4,583,988 shares of the biopharmaceutical company’s stock worth $4,513,000 after purchasing an additional 137,691 shares during the period. Finally, AIGH Capital Management LLC bought a new position in shares of Esperion Therapeutics during the 3rd quarter valued at about $7,950,000. Institutional investors and hedge funds own 47.39% of the company’s stock.

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.