Needham & Company Upgrades Esperion Therapeutics (ESPR) to Strong Buy; Shares Will Rebound
Needham & Company upgraded Esperion Therapeutics (NASDAQ: ESPR) from Buy to Strong Buy with a price target of $130.00.
Analyst Chan Messer commented, "ESPR shares have recently pulled back over regulatory concerns. Some investors feel that an evolution of thinking at the FDA about cholesterol lowering could result in a higher bar for approval and/or a more restrictive label for ETC-1002. We disagree and are more confident than ever that FDA will agree to a development plan targeting a broad based label for LDL reduction. Specifically, we believe the plan will not require a completed cardiovascular outcomes trial (CVOT) as a prerequisite for any patient population. We upgrade ESPR shares to Strong Buy and would use the pullback as a buying opportunity."
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Shares of Esperion Therapeutics closed at $58.74 yesterday.