Needham & Company Pleased with Esperion (ESPR) LDL Data for ETC-1002, Recommends Buying on Weakness

Needham & Company analyst Chad Messer reiterated a Buy rating and $130 price target on Esperion Therapeutics (NASDAQ: ESPR) after the company announced the last of the ETC-1002 Phase II results, which he called "great.". The analyst recommends buying shares amid the recent weakness related to approval and labeling for Praluent

Messer commented, "Study 014 evaluated the effect of ETC-1002 on LDL cholesterol and blood pressure in patients with hypercholesterolemia and hypertension. Consistent with previous studies, ETC-002 lowered LDL by 21%. However, in contrast to a previous post-hoc analysis, ETC-1002 showed no significant effect on blood pressure (BP). The remaining outstanding question for investors is whether Esperion will be required to run a cardiovascular outcomes (CVOT) trial prior to NDA submission. We continue to believe that the FDA will not require a CVOT. We recommend investors take advantage of recent stock weakness surrounding approval and labeling for Praluent."

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 $71.65 yesterday.

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