Needham analyst Serge Belanger maintained a Buy rating on Esperion (ESPR – Research Report) today and set a price target of $4.00.
Serge Belanger has given his Buy rating due to a combination of factors that highlight potential growth for Esperion. Despite a challenging market environment, Esperion’s first-quarter results exceeded expectations, with U.S. product sales showing significant year-over-year growth. This performance is attributed to improved access and reimbursement support, expanded formulary coverage, and new marketing strategies that are expected to drive further sales growth.
Additionally, there is optimism surrounding Otsuka’s efforts to gain approval and secure pricing for bempedoic acid in Japan, which could result in a substantial financial milestone for Esperion. While there have been adjustments in sales estimates and operating expenses, the overall outlook remains positive, justifying the Buy rating. The price target has been slightly adjusted to reflect these updates, but the underlying growth potential remains intact.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $16.00 price target.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ESPR in relation to earlier this year.