Chardan analyst Gbola Amusa says last night's update from Esperion Therapeutics confirmed this bear thesis on the stock. He has a Sell rating on the name with a $40 price target. The guidance from the FDA is "clearly inconsistent with recent management and consensus commentary," Amusa tells investors in a research note. The agency is requiring Esperion to test ETC-1002 in untested settings where the drug likely does not work well, the analyst argues. Amusa believes the Lowering of LDL-cholesterol can only be used as a surrogate endpoint for approval in patients with high unmet medical needs, as opposed to for the broad initial label Esperion previously expected. The stock is trading up $5.79 to $81.30 in the pre-market.