Esperion Therapeutics (NASDAQ:ESPR) Stock Price Up 8.7% - Here's Why

Shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR - Get Free Report) were up 8.7% during trading on Friday . The stock traded as high as $2.76 and last traded at $2.76. Approximately 2,417,710 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 6,116,351 shares. The stock had previously closed at $2.54.

Analyst Ratings Changes

Several brokerages have recently issued reports on ESPR. Needham & Company LLC decreased their price target on shares of Esperion Therapeutics from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, August 13th. HC Wainwright reissued a "buy" rating and issued a $16.00 target price on shares of Esperion Therapeutics in a research report on Wednesday. Finally, StockNews.com cut Esperion Therapeutics from a "buy" rating to a "hold" rating in a research report on Friday, November 15th.

Esperion Therapeutics Stock Up 10.2 %

The company has a market cap of $551.70 million, a P/E ratio of -4.38 and a beta of 0.96. The firm's 50-day moving average price is $2.11 and its 200-day moving average price is $2.16.

Hedge Funds Weigh In On Esperion Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP grew its stake in Esperion Therapeutics by 38.4% during the third quarter. Wasatch Advisors LP now owns 23,346,013 shares of the biopharmaceutical company's stock valued at $38,521,000 after acquiring an additional 6,483,070 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Esperion Therapeutics by 71.8% during the 1st quarter. Vanguard Group Inc. now owns 8,826,546 shares of the biopharmaceutical company's stock valued at $23,655,000 after purchasing an additional 3,688,796 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Esperion Therapeutics by 94.2% in the second quarter. Marshall Wace LLP now owns 4,303,596 shares of the biopharmaceutical company's stock worth $9,554,000 after purchasing an additional 2,087,635 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Esperion Therapeutics by 3,278.3% in the second quarter. Bank of New York Mellon Corp now owns 572,323 shares of the biopharmaceutical company's stock worth $1,271,000 after purchasing an additional 555,382 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Esperion Therapeutics in the third quarter worth $606,000. 47.39% of the stock is currently owned by hedge funds and other institutional investors.

Esperion Therapeutics Company Profile

Esperion Therapeutics, Inc, a pharmaceutical company, develops and commercializes medicines for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C). Its marketed products include NEXLETOL (bempedoic acid) and NEXLIZET (bempedoic acid and ezetimibe) tablets that are oral, once-daily, non-statin medicines for the treatment of primary hyperlipidemia in adults with heterozygous familial hypercholesterolemia or atherosclerotic cardiovascular disease who require additional lowering of LDL-C.