Principal Financial Group Inc. Trims Stake in Esperion Therapeutics, Inc. $ESPR

Principal Financial Group Inc. lessened its position in shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR) by 51.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,056 shares of the biopharmaceutical company’s stock after selling 203,234 shares during the quarter. Principal Financial Group Inc. owned approximately 0.09% of Esperion Therapeutics worth $504,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ESPR. Jones Financial Companies Lllp acquired a new position in shares of Esperion Therapeutics during the 1st quarter worth approximately $278,000. Sivia Capital Partners LLC purchased a new stake in Esperion Therapeutics during the 2nd quarter worth about $25,000. Summit Wealth Group LLC raised its holdings in Esperion Therapeutics by 10.2% in the second quarter. Summit Wealth Group LLC now owns 323,000 shares of the biopharmaceutical company’s stock valued at $318,000 after acquiring an additional 30,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 last quarter. Finally, Intech Investment Management LLC boosted its stake in Esperion Therapeutics by 30.4% in the second quarter. Intech Investment Management LLC now owns 123,040 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 28,695 shares in the last quarter. Institutional investors and hedge funds own 47.39% of the company’s stock.

Insider Activity at Esperion Therapeutics

In related news, CFO Benjamin Halladay sold 7,337 shares of Esperion Therapeutics stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 15,543 shares of company stock valued at $55,709. Company insiders own 1.70% of the company’s stock.

Esperion Therapeutics Trading Down 1.4%

Shares of NASDAQ:ESPR opened at $3.52 on Friday. The stock’s 50-day moving average price is $3.54 and its two-hundred day moving average price is $3.02. Esperion Therapeutics, Inc. has a 12-month low of $0.69 and a 12-month high of $4.18. The firm has a market cap of $841.49 million, a price-to-earnings ratio of -7.04, a PEG ratio of 0.75 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ESPR shares. Piper Sandler started coverage on Esperion Therapeutics in a research note on Tuesday, November 25th. They set an “overweight” rating and a $9.00 price target for the company. Wall Street Zen downgraded Esperion Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Esperion Therapeutics in a report on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Esperion Therapeutics in a research note on Wednesday, November 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of Esperion Therapeutics in a report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.00.

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.