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Fly News Breaks for June 29, 2016
ESPR
Jun 29, 2016 | 06:04 EDT
JPMorgan analyst Jessica Fye downgraded Esperion Therapeutics to Neutral saying last night's regulatory update is a net negative. Disappointingly, the FDA did not sign off on the use of LDL-C lowering as an acceptable regulatory endpoint for approval of bempedoic acid for the treatment of statin-intolerant patients, Fye tells investors in a research note. The analyst still believes bempedoic acid is an effective LDL-C lowering agent, but now sees a drawn out path to approval in the U.S. She cut her price target for Esperion shares to $15 from $50.
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