Stifel Nicolaus analyst Derek Archila reiterated a Buy rating on Esperion (ESPR) today. The company’s shares closed on Friday at $43.24.
Archila noted:
“We are reiterating our Buy rating on ESPR shares after the company reported its NDAs for bempedoic acid (BPA) and the BPA/ ezetimibe combo were accepted by the FDA and currently, the FDA is not planning for an advisory committee to be convened for either application. We view the latter point as an important, incremental positive given the investor controversies surrounding BPA’s safety and the assumption among most investors that an adcom was a foregone conclusion; however we would note, the FDA could still convene an adcom if it feels one is needed at any point during the review process. Overall, we remain confident in BPA/combo’s FDA approval and positive on its commercial prospects, especially in patients who require LDL-C lowering and are statin intolerant. We believe today’s update should get investors incrementally more positive on BPA’s approvability.”
According to TipRanks.com, Archila ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.9% and a 34.4% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Principia Biopharma Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Esperion with a $76.50 average price target, implying a 76.9% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock with a $94 price target.
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Based on Esperion’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $60.04 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).
