In a report released today, Carl Byrnes from Northland Securities maintained a Buy rating on Esperion (ESPR), with a price target of $65. The company’s shares opened today at $45.81.
Byrnes commented:
“We anticipate a clear path to approval in both jurisdictions, w/ commercialization in 1Q2020 (US) and 2Q2020 (EU), respectively. Esperion reported 4Q EPS of ($2.24) vs. the consensus of ($1.39), reflecting higher R&D associated w/ regulatory progression of bempedoic acid and various clinical trials, including its ~12,600 subject CLEAR Outcomes trial. Considering year-end cash equivalents of ~ $126MM, plus receipt of $150MM upfront payment in Europe (DSE) related to its EU partnership, we approximate current cash balances to be in the $250MM vicinity. The Co. anticipates net cash used from operations in 2019 to approximate $25MM-to-$35MM, reflecting the aforementioned receipt of the $150MM upfront payment from R&D cash expenditures, and $60MM-to- $65MM SG&A cash expenditures .”
According to TipRanks.com, Byrnes is a 2-star analyst with an average return of 0.4% and a 30.0% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Flexion Therapeutics, Heron Therapeutics, and vTv Therapeutics.
Esperion has an analyst consensus of Moderate Buy, with a price target consensus of $93.80.
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Based on Esperion’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $49.91 million. In comparison, last year the company had a GAAP net loss of $37.89 million.
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Esperion Therapeutics, Inc. is a clinical stage pharmaceutical company, which engages in the development and commercialization of oral therapies for the treatment of patients with elevated low-density lipoprotein cholesterol (LDL-C).
