Parallel Advisors LLC acquired a new stake in Esperion Therapeutics Inc (NASDAQ:ESPR) in the third quarter, HoldingsChannel reports. The institutional investor acquired 7,710 shares of the biopharmaceutical company’s stock, valued at approximately $283,000.
Several other hedge funds have also made changes to their positions in ESPR. Marshall Wace LLP acquired a new position in shares of Esperion Therapeutics in the 1st quarter valued at $186,000. Xact Kapitalforvaltning AB acquired a new position in shares of Esperion Therapeutics in the 2nd quarter valued at $203,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Esperion Therapeutics in the 2nd quarter valued at $165,000. Virginia Retirement Systems ET AL acquired a new position in shares of Esperion Therapeutics in the 2nd quarter valued at $219,000. Finally, Bailard Inc. raised its stake in shares of Esperion Therapeutics by 28.1% in the 2nd quarter. Bailard Inc. now owns 76,200 shares of the biopharmaceutical company’s stock valued at $3,545,000 after buying an additional 16,700 shares in the last quarter.
A number of brokerages have recently issued reports on ESPR. Stifel Nicolaus dropped their price objective on shares of Esperion Therapeutics from $112.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. BidaskClub raised shares of Esperion Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Northland Securities reaffirmed a “buy” rating on shares of Esperion Therapeutics in a report on Thursday, August 29th. Goldman Sachs Group raised shares of Esperion Therapeutics from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $55.00 to $45.00 in a report on Monday, September 16th. Finally, Cowen reaffirmed a “buy” rating on shares of Esperion Therapeutics in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.44.
Shares of ESPR traded up $0.25 during trading hours on Friday, hitting $37.82. The stock had a trading volume of 592,400 shares, compared to its average volume of 500,623. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -5.02 and a beta of 1.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.65 and a quick ratio of 5.65. Esperion Therapeutics Inc has a 52 week low of $33.13 and a 52 week high of $58.90. The company’s fifty day moving average is $38.49 and its two-hundred day moving average is $42.58.
Esperion Therapeutics (NASDAQ:ESPR) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($2.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.95) by ($0.42). The company had revenue of $0.98 million for the quarter, compared to analyst estimates of $0.99 million. During the same quarter last year, the company earned ($1.86) EPS. Equities analysts predict that Esperion Therapeutics Inc will post -3.02 EPS for the current fiscal year.
In other news, major shareholder Target N. V. Biotech purchased 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average cost of $33.78 per share, for a total transaction of $2,702,400.00. Following the transaction, the insider now directly owns 3,652,964 shares of the company’s stock, valued at approximately $123,397,123.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Target N. V. Biotech purchased 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average price of $37.30 per share, for a total transaction of $2,797,500.00. Following the completion of the transaction, the insider now directly owns 3,727,964 shares in the company, valued at $139,053,057.20. The disclosure for this purchase can be found here. Insiders purchased a total of 167,500 shares of company stock worth $5,943,925 over the last quarter. 7.70% of the stock is currently owned by corporate insiders.
About Esperion Therapeutics
Esperion Therapeutics, Inc, a lipid management company, focuses on developing and commercializing oral therapies for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C). Its lead product candidate is bempedoic acid/ezetimibe combination pill, a non-statin, orally available, LDL-C lowering therapy for patients with hypercholesterolemia and with atherosclerotic cardiovascular disease, and/or heterozygous familial hypercholesterolemia that is in Phase III long-term safety and tolerability study.
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