Esperion Therapeutics (ESPR) 'Significantly Undervalued' Despite Move - Needham & Company

Needham & Company analyst Chad Messer said Esperion Therapeutics (NASDAQ: ESPR) is significantly undervalued despite today's 22% gains. He reiterated a Buy rating and price target of $25.

Messer commented, "Amgen announced positive results from their FOURIER trial that evaluates Repatha (evolocumab), an anti-PCSK9 antibody, in ASCVD patients. The trial hit the primary and secondary endpoints, demonstrating reduction in the risk of cardiovascular events (i.e. death, stroke, non-fatal myocardial infarction, etc.). These results read-through positively to Esperion as we believe they increase the chances for bempedoic acid US approval prior to completion of their own CVOT. For valuation purposes, we continue to conservatively estimate a post-CVOT 2022 approval in the US, implying ESPR shares are significantly undervalued despite today's gains."

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 $12.72 yesterday.

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