Credit Suisse Assumes, Downgrades Esperion Therapeutics (ESPR) to Neutral

Credit Suisse assumes and downgraded Esperion Therapeutics (NASDAQ: ESPR) from Outperform to Neutral with a price target of $86.00 (from $130.00).

Analyst V. Divan commented, "We are firm believers in the LDL-c hypothesis and are encouraged by the LDL-c reducing activity we have seen from ETC-1002 to date. We are cautious, however, until we are able to obtain more visibility on the upcoming FDA decision and product labels for the PCSK9s, output of ESPR's End of Phase 2 Meeting with the FDA in August, and publication of work ESPR has done in clearly defining the mechanism of action for ETC-1002 in November. Should these near-term events pass favorably then we see blockbuster potential for ETC-1002 but at this point we wait for more clarity on these points before we can recommend ESPR shares to investors with conviction, especially relative to other names in our coverage universe. "

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 $80.97 yesterday.

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