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Esperion management to meet with UBS
Meeting to be held in New York on July 11 hosted by UBS.
Concerns about safety of Esperion's bempedoic acid overdone, says Cowen
After speaking with Esperion management and a key opinion leader consultant, Cowen analyst Chris Shibutani said he believes that investor concerns regarding the safety profile of Esperion's bempedoic acid, in particular stemming from the numerical difference reported in CV-related deaths in the "Study 1" readout, are overdone. The analyst, who sees the pullback presenting a buying opportunity, keeps an Outperform rating and $95 price target on Esperion shares.
Esperion share recovery could happen, says Jefferies
After hosting investor meetings with management, Jefferies analyst Michael Yee concluded that despite the "visceral market reaction," investors who "understand the details" come away with a consensus view that bempedoic acid is not causing cancer and not causing cardiovascular deaths. This is positive and a "stock repair" could happen if the company lays out the details of the deaths clearly and the three studies coming in May, August and September support a positive safety picture, Yee tells investors in a research note. He has a Buy rating on Esperion with an $85 price target.
Esperion price target lowered to $75 from $90 at UBS
UBS analyst Carter Gould lowered his price target on Esperion to $75 from $90 to reflect the likely overhang of approval concerns for bempedoic acid following Study 1 data. The analyst believes bempedoic acid will ultimately be approved, but noted concerns about the imbalance of elevated liver enzymes and the magnitude of LDL reduction. Gould maintained his Buy rating on Esperion shares.
Esperion Study 3 results look 'solid,' safety data 'clean,' says JMP Securities
JMP Securities analyst Jason Butler said the results of the third of Esperion's four Phase 3 trials evaluating bempedoic acid for the treatment of elevated LDL-C looked "solid" and "clearly clinically significant." The safety profile was "clean" and consistent with prior trials, added Butler, who maintains an Outperform rating and $153 price target on Esperion shares.
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