Goldman Sachs Group Upgrades Esperion Therapeutics (NASDAQ:ESPR) to Neutral

Goldman Sachs Group upgraded shares of Esperion Therapeutics (NASDAQ:ESPR) from a sell rating to a neutral rating in a research report report published on Monday morning, BenzingaRatingsTable reports. Goldman Sachs Group currently has $45.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $55.00.

Several other equities research analysts also recently issued reports on the company. Citigroup set a $73.00 price target on Esperion Therapeutics and gave the company a buy rating in a research report on Tuesday, May 28th. BidaskClub downgraded Esperion Therapeutics from a sell rating to a strong sell rating in a research report on Wednesday, July 31st. Northland Securities reaffirmed a buy rating on shares of Esperion Therapeutics in a research report on Thursday, August 29th. ValuEngine downgraded Esperion Therapeutics from a buy rating to a hold rating in a research report on Thursday, September 5th. Finally, Cowen reaffirmed a buy rating and issued a $80.00 price target on shares of Esperion Therapeutics in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $69.73.

NASDAQ ESPR opened at $36.90 on Monday. Esperion Therapeutics has a fifty-two week low of $33.13 and a fifty-two week high of $60.99. The stock’s 50-day moving average is $37.30 and its two-hundred day moving average is $44.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.65 and a quick ratio of 5.65. The firm has a market cap of $993.36 million, a P/E ratio of -4.89 and a beta of 1.71.

Esperion Therapeutics (NASDAQ:ESPR) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($2.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.86) by ($0.15). The business had revenue of $0.98 million during the quarter, compared to the consensus estimate of $1.05 million. During the same quarter in the prior year, the business posted ($1.71) EPS. Esperion Therapeutics’s quarterly revenue was up 9720.0% on a year-over-year basis. On average, equities analysts expect that Esperion Therapeutics will post -3.02 EPS for the current year.

In other news, major shareholder Target N. V. Biotech bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average cost of $42.65 per share, with a total value of $2,132,500.00. Following the completion of the transaction, the insider now directly owns 3,572,964 shares in the company, valued at $152,386,914.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Target N. V. Biotech bought 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $33.78 per share, for a total transaction of $2,702,400.00. Following the completion of the transaction, the insider now owns 3,652,964 shares of the company’s stock, valued at $123,397,123.92. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 147,500 shares of company stock worth $5,521,825. 7.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System grew its position in Esperion Therapeutics by 2.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,360 shares of the biopharmaceutical company’s stock worth $456,000 after buying an additional 260 shares in the last quarter. Aperio Group LLC acquired a new stake in Esperion Therapeutics during the second quarter worth about $29,000. Russell Investments Group Ltd. acquired a new stake in Esperion Therapeutics during the second quarter worth about $32,000. Royal Bank of Canada grew its position in Esperion Therapeutics by 38.1% during the second quarter. Royal Bank of Canada now owns 2,938 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 811 shares in the last quarter. Finally, Swiss National Bank grew its position in Esperion Therapeutics by 2.0% during the second quarter. Swiss National Bank now owns 44,900 shares of the biopharmaceutical company’s stock worth $2,089,000 after buying an additional 900 shares in the last quarter.

About Esperion Therapeutics

Esperion Therapeutics, Inc, a lipid management company, focuses on developing and commercializing oral therapies for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C). Its lead product candidate is bempedoic acid/ezetimibe combination pill, a non-statin, orally available, LDL-C lowering therapy for patients with hypercholesterolemia and with atherosclerotic cardiovascular disease, and/or heterozygous familial hypercholesterolemia that is in Phase III long-term safety and tolerability study.

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