Esperion Therapeutics (ESPR) 'Highly Oversold', Needham & Company Says

Needham & Company analyst Chad Messer reiterated a Buy rating and $115 price target on Esperion Therapeutics (NASDAQ: ESPR) as the company is pivoting back toward a dual track Phase III plan focused on approval in both statin-intolerant and statin add-on patients. The analyst views shares as "highly oversold."

"This stance contrasts comments made in August immediately following the EOP2 meeting when the company said they felt FDA wanted initial approval only in secondary prevention patients," Messer notes. "While the apparent flip-flopping and commentary about a "dynamic" (i.e., more uncertain) regulatory environment have investors spooked, we view shares as highly oversold given the relatively clear regulatory path for the statin add-on population. We maintain our prior base case scenario that statin-intolerant approval will require a CVOT and we continue to model approval in this indication in 2021."

For an analyst ratings summary and ratings history on Esperion Therapeutics click here. For more ratings news on Esperion Therapeutics click here.

Shares of Esperion Therapeutics closed at $18.33 yesterday.

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