Esperion Therapeutics (ESPR) PT Cut to $25 at Needham & Company After Update, Maintains 'Buy'

Needham & Company analyst Chad Messer lowered his price target on Esperion Therapeutics (NASDAQ: ESPR) to $25.00 (from $77.00) but maintained a Buy rating after the company gave an update on regulatory discussions around Phase III development for bempedoic acid. Unfortunately and surprisingly the FDA appears to be wavering on its long held commitment to LDL lowering as a surrogate endpoint for drug approvals.

Messer commented, "Their concern is that the readout of upcoming CVOTs with PCSK9 inhibitors will be negative, thus weakening evidence for a link between LDL and cardiovascular outcomes. While we disagree with this logic, it puts in jeopardy the possibility of U.S. bempedoic acid approval prior to the completion of their own CVOT in 2022. Conservatively, we now value ESPR shares assuming this later U.S. approval."

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 $16.18 yesterday.

You May Also Be Interested In

• QuantumScape (QS) PT Lowered to $6 at Truist Securities
• American International Group (AIG) PT Raised to $89 at Piper Sandler
• Uber Inc. (UBER) PT Raised to $96 at Tigress Financial Partners