Platinum Investment Management Ltd. Decreases Stock Holdings in Esperion Therapeutics, Inc. (NASDAQ:ESPR)

Platinum Investment Management Ltd. lessened its holdings in Esperion Therapeutics, Inc. (NASDAQ:ESPR - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 840,052 shares of the biopharmaceutical company's stock after selling 252,810 shares during the quarter. Platinum Investment Management Ltd. owned approximately 0.43% of Esperion Therapeutics worth $1,848,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in shares of 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 during the last quarter. Geode Capital Management LLC raised its position in Esperion Therapeutics by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,331,314 shares of the biopharmaceutical company's stock worth $7,148,000 after purchasing an additional 171,609 shares during the last quarter. State Street Corp lifted its holdings in Esperion Therapeutics by 2.7% during the 3rd quarter. State Street Corp now owns 3,854,314 shares of the biopharmaceutical company's stock worth $6,360,000 after buying an additional 99,802 shares during the period. JPMorgan Chase & Co. grew its position in shares of Esperion Therapeutics by 1.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,069,117 shares of the biopharmaceutical company's stock valued at $3,414,000 after buying an additional 19,588 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Esperion Therapeutics by 31.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 932,008 shares of the biopharmaceutical company's stock valued at $2,050,000 after buying an additional 220,730 shares during the period. 47.39% of the stock is currently owned by institutional investors and hedge funds.

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Esperion Therapeutics Price Performance

Shares of ESPR traded up $0.07 during trading hours on Friday, hitting $1.69. The stock had a trading volume of 5,003,722 shares, compared to its average volume of 5,952,013. Esperion Therapeutics, Inc. has a 1-year low of $1.47 and a 1-year high of $3.94. The firm has a market capitalization of $334.36 million, a P/E ratio of -2.64 and a beta of 1.04. The firm has a 50 day simple moving average of $1.84 and a 200-day simple moving average of $2.07.

Analyst Upgrades and Downgrades

Several analysts recently commented on ESPR shares. JMP Securities reiterated a "market outperform" rating and issued a $4.00 target price (down from $7.00) on shares of Esperion Therapeutics in a report on Tuesday, February 11th. The Goldman Sachs Group started coverage on shares of Esperion Therapeutics in a research note on Wednesday, December 18th. They issued a "neutral" rating and a $4.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $16.00 target price on shares of Esperion Therapeutics in a report on Thursday. Cantor Fitzgerald started coverage on Esperion Therapeutics in a report on Tuesday, December 17th. They set an "overweight" rating and a $8.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $6.00 price objective on shares of Esperion Therapeutics in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $6.75.

About Esperion Therapeutics

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.