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Fly News Breaks for February 28, 2017
ESPR
Feb 28, 2017 | 10:55 EDT
Citi analyst Joel Beatty earlier today upgraded Esperion Therapeutics to Buy from Neutral and raised his price target for the shares to $39 from $14. The stock in morning trading is up 4%, or $1.07, to $26.94. The company's lead cholesterol lowering agent Bempedoic Acid is more likely to be approved after Phase 3 is completed under a Trump administration, Beatty told investors in a research note. He pointed out that Esperion shares fell from an all-time high of $115 in 2015 as investors lost confidence in the FDA will approving Bempedoic Acid based on low density lipoprotein cholesterol as a surrogate endpoint. With a new a new FDA Commissioner likely to be named soon, and a PCSK9 outcomes trial presentation coming on March 17, Beatty thinks now is the time to give Esperion another look.
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