Amgen GLAGOV Success a Modest Derisking Event for Esperion (ESPR) - Stifel
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Galena Biopharma (GALE) PT Raised to $4 at Maxim Group into San Antonio Breast Cancer Symposium
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
- Jefferies Raises Price Target on US Physical Therapy (USPH) to $63 Following 12-Clinic Acquisition
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!