Esperion Therapeutics (NASDAQ:ESPR) Stock Price Down 6.9% – Here’s What Happened

Esperion Therapeutics, Inc. (NASDAQ:ESPR) shares dropped 6.9% during mid-day trading on Wednesday . The stock traded as low as $2.81 and last traded at $2.83. Approximately 1,300,263 shares changed hands during trading, a decline of 79% from the average daily volume of 6,187,633 shares. The stock had previously closed at $3.04.

Wall Street Analyst Weigh In

ESPR has been the topic of several research reports. Needham & Company LLC lowered their price target on Esperion Therapeutics from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. StockNews.com lowered Esperion Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Esperion Therapeutics in a research note on Tuesday, December 3rd.

Esperion Therapeutics Trading Down 15.5 %

The firm has a market capitalization of $506.39 million, a price-to-earnings ratio of -4.42 and a beta of 1.01. The firm has a fifty day moving average price of $2.36 and a 200 day moving average price of $2.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Boomfish Wealth Group LLC boosted its holdings in shares of Esperion Therapeutics by 17.1% in the 3rd quarter. Boomfish Wealth Group LLC now owns 34,997 shares of the biopharmaceutical company’s stock worth $58,000 after acquiring an additional 5,102 shares in the last quarter. Summit Financial LLC lifted its holdings in Esperion Therapeutics by 26.4% during the 2nd quarter. Summit Financial LLC now owns 32,687 shares of the biopharmaceutical company’s stock worth $73,000 after buying an additional 6,823 shares in the last quarter. National Bank of Canada FI lifted its holdings in Esperion Therapeutics by 115.9% during the 2nd quarter. National Bank of Canada FI now owns 19,050 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 10,225 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Esperion Therapeutics by 45.3% during the 2nd quarter. SG Americas Securities LLC now owns 37,414 shares of the biopharmaceutical company’s stock worth $83,000 after buying an additional 11,658 shares in the last quarter. Finally, BOKF NA acquired a new position in Esperion Therapeutics during the 2nd quarter worth $26,000. 47.39% of the stock is owned by institutional investors and hedge funds.

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.