Esperion Therapeutics (ESPR) Price Target Lowered to $50 at Chardan

Chardan Capital Markets maintained a Sell rating on Esperion Therapeutics (NASDAQ: ESPR) and lowered its price target to $50.00 (from $55.00). The change follows an FDA panel meeting and vote supporting approval of Regeneron's (NASDAQ: REGN) Praluent. Analyst Gbolahn Amusa pointed out that multiple panelists asserted that LDL-lowering for novel therapies is not enough and that the mechanism matters. These comments could imply great proof is need for LDL lowering compounds, including outcome studies.

In Amusa's view, if ETC-1002 makes it to market, launch will be delayed to 2020 vs consensus of 2018. He lowered probability of its success to 40% from 45%.

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 $100.53 yesterday.

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