Esperion Therapeutics (NASDAQ:ESPR) Sees Large Volume Increase – Here’s Why

Esperion Therapeutics, Inc. (NASDAQ:ESPR) shares saw unusually-strong trading volume on Wednesday . 4,976,937 shares were traded during mid-day trading, a decline of 45% from the previous session’s volume of 9,002,371 shares.The stock last traded at $3.1750 and had previously closed at $3.16.

Wall Street Analyst Weigh In

ESPR has been the topic of several research reports. Cantor Fitzgerald lowered shares of Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Piper Sandler downgraded Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Jefferies Financial Group lowered Esperion Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. HC Wainwright downgraded Esperion Therapeutics from a “buy” rating to a “neutral” rating and set a $3.16 price target on the stock. in a research note on Friday, May 1st. Finally, Needham & Company LLC lowered Esperion Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Esperion Therapeutics currently has an average rating of “Hold” and a consensus price target of $5.54.

Esperion Therapeutics Stock Performance

The firm has a market cap of $822.03 million, a P/E ratio of -53.17 and a beta of 1.07. The company’s 50-day moving average is $3.10 and its two-hundred day moving average is $3.05.

Esperion Therapeutics (NASDAQ:ESPR) last issued its quarterly earnings data on Friday, May 8th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). Esperion Therapeutics had a negative return on equity of 0.14% and a net margin of 0.12%.The company had revenue of $80.10 million for the quarter, compared to the consensus estimate of $84.52 million.

Insiders Place Their Bets

In other Esperion Therapeutics news, insider Benjamin Looker sold 11,824 shares of Esperion Therapeutics stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $3.15, for a total transaction of $37,245.60. Following the transaction, the insider directly owned 667,524 shares of the company’s stock, valued at $2,102,700.60. The trade was a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Benjamin Halladay sold 10,773 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $3.15, for a total transaction of $33,934.95. Following the completion of the sale, the chief financial officer owned 702,829 shares of the company’s stock, valued at approximately $2,213,911.35. The trade was a 1.51% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Esperion Therapeutics by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 945,491 shares of the biopharmaceutical company’s stock valued at $2,506,000 after buying an additional 384,095 shares during the last quarter. AIGH Capital Management LLC boosted its stake in shares of Esperion Therapeutics by 33.3% in the 4th quarter. AIGH Capital Management LLC now owns 4,000,000 shares of the biopharmaceutical company’s stock worth $14,800,000 after buying an additional 1,000,000 shares during the last quarter. Integral Health Asset Management LLC purchased a new position in shares of Esperion Therapeutics in the 3rd quarter worth approximately $3,975,000. Wasatch Advisors LP boosted its stake in shares of Esperion Therapeutics by 66.9% in the 1st quarter. Wasatch Advisors LP now owns 15,768,897 shares of the biopharmaceutical company’s stock worth $43,207,000 after buying an additional 6,323,138 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Esperion Therapeutics by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 14,945,454 shares of the biopharmaceutical company’s stock valued at $55,298,000 after acquiring an additional 2,853,005 shares in the last quarter. 47.39% of the stock is owned by institutional investors.

Esperion Therapeutics Company Profile

Esperion Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of oral, low–density lipoprotein cholesterol (LDL-C)–lowering therapies. The company’s research and development efforts center on small-molecule compounds designed to address atherosclerotic cardiovascular disease by targeting cholesterol biosynthesis pathways. Esperion seeks to provide novel treatment options for patients who require additional LDL-C reduction beyond what is achieved with statins or who are statin-intolerant.

The company’s lead products include NEXLETOL (bempedoic acid), an oral adenosine triphosphate–citrate lyase (ACL) inhibitor approved by the U.S.