Northland Securities analyst Carl Byrnes maintained a Buy rating on Esperion (ESPR) today and set a price target of $65. The company’s shares closed yesterday at $50.09.
Byrnes observed:
“We anticipate a clear path to approval considering the success of its broad P3 program comprised of 5 studies including >4K patients, of which >2,600 subjects were treated with BA. Esperion’s BA 180mg has demonstrated: an 18% LDL-C redux for those on maximally tolerated statin (MTS) regimens; a 28% LDL-C redux for those on no background statin regimens; accompanied by a 19%-40% hsCRP reduction. For the FDC (BA 180mg + ezetimibe 10mg) BA demonstrated an additional LDL- C redux of 35% for those on MTS regimens; a 43% LDL-C redux for those on no background statin; accompanied by a 34% hsCRP reduction Further, severe adverse events in the BA treatment arms were at parity with placebo.”
According to TipRanks.com, Byrnes is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -12.9% and a 20.8% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Aridis Pharmaceuticals Inc, and Adamas Pharmaceuticals.
Currently, the analyst consensus on Esperion is a Moderate Buy with an average price target of $71.86, a 43.5% upside from current levels. In a report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock.
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Based on Esperion’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $87.38 million. In comparison, last year the company had a GAAP net loss of $46.13 million.
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Esperion Therapeutics, Inc. operates as 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).
