Citizens JMP Reiterates Market Outperform Rating on Esperion Therapeutics (ESPR)

Citizens JMP analyst Jason N. Butler reiterated a Market Outperform rating and $4.00 price target on Esperion Therapeutics (NASDAQ: ESPR).

The analyst commented, "Label expansion opportunities provide potential upside; we reiterate our Market Outperform rating and risk-adjusted, DCF-derived $4 price target on Esperion Therapeutics. Last week, Esperion announced that it is advancing Phase 3 development of bempedoic acid in pediatric patients with heterozygous and homozygous familial hypercholesterolemia (HeFH and HoFH). The company believes it is in alignment with FDA on the Phase 3 program and intends to initiate trials this year. Importantly, in our view, these label expansions would provide an additional six months of patent protection through June 2031. We believe these indications represent meaningful upside for the franchise given the unmet medical need. However, even assuming the company did not generate meaningful sales upside from the label expansions, we believe the six-month extension in brand exclusivity could add ~$200MM, or ~$0.75/share, to our NPV."

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 $1.69 yesterday.

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