Esperion assumed at Buy from Hold at Jefferies

Jefferies analyst Dennis Ding upgraded Esperion to Buy from Hold with a $12 price target as he assumed coverage of the stock, citing a better management tone into Phase 3 CLEAR CV outcomes data due at ACC on March 4 and better visibility into the company’s cash runway. The firm is "fairly confident" Esperion should meet or beat the Street’s 15% cardiovascular benefit "bar," but even if risk reduction is more modest, it thinks the totality of the data would still look attractive to doctors as an oral LDL option.