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Fly News Breaks for February 3, 2017
AMGN, ESPR
Feb 3, 2017 | 08:28 EDT
JMP Securities analyst Jason Butler sees positive read-through from Amgen's (AMGN) cardiovascular outcomes trial for its PCSK9 inhibitor, Repatha, to both the likelihood of the FDA approving Esperion's (ESPR) bempedoic acid on the basis of LDL-C reduction and to the drug demonstrating a robust CV risk reduction in its own trial. Butler reiterates an Outperform rating and $41 price target on Esperion, which jumped in after-hours trading following Amgen's announcement of its trial data.
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