Amgen GLAGOV Success a Modest Derisking Event for Esperion (ESPR) - Stifel
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Stifel analyst Thomas Shrader weighed in on Esperion Therapeutics (NASDAQ: ESPR) after Amgen (NASDAQ: AMGN) announced that its PCSK9 coronary intravascular imaging trial (GLAGOV) had met all primary and secondary endpoints. The resulting data will be presented at the upcoming AHA meeting in November.
Shrader commented, "While we await full data, the relevant question is: what is the change in plaque volume and will this effect become a good biomarker for subsequent CV events? Overall, we believe it’s generally well accepted that reducing atherosclerotic plaque from artery walls is a good thing and likely to translate into a reduction in cardiovascular events. For the overall field of cholesterol control, we believe GLAGOV meeting its endpoints is yet another factor pointing to the likelihood that Amgen’s as well as Regeneron/Sanofi’s cardiovascular trial will also read out positively. In our opinion, the success of these trials would go a long way to re-establishing LDL cholesterol as a surrogate endpoint in the eyes of the FDA – a significant positive for Esperion and their regulatory pathway"
The analyst maintained a Buy rating and price target of $64 on ESPR
Shares of Esperion Therapeutics closed at $11.44 yesterday.
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