UPDATE: Jefferies Downgrades Esperion Therapeutics (ESPR) to Hold
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(Updated - February 12, 2021 7:58 AM EST)
Jefferies analyst Michael Yee downgraded Esperion Therapeutics (NASDAQ: ESPR) from Buy to Hold with a price target of $30.00 (from $40.00).
The analyst commented, "We move to Hold bc: 1) Nexletol/ Nexlizet launch will take time as COVID dynamics and interactions in doc offices remain challenging, 2) there's wkly growth but not significant acceleration in script trends (hired new Chief Commercial Officer to try and resolve), 3)balance sheet has improved but investor uncertainty about cash remains, and 4) we are below cons on 2021-22. Stock not expensive at $975M cap ($1.3B EV) but it will take patience during 2021-22"
Shares of Esperion Therapeutics closed at $31.71 yesterday.
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