Esperion downgraded to Underperform at BofA after milestone dispute

As previously reported, BofA analyst Jason Zemansky downgraded Esperion to Underperform from Neutral with a price target of $1.50, down from $8, after the company disclosed that partner Daiichi Sankyo Europe disagreed with the company’s entitlement to a $300M milestone related to bempedoic acid. It remains unclear how, and how quickly, the dispute will play out, which adds to uncertainties facing the company, "not the least of which" is the potential to seek out additional funds from "an arguably skeptical investor base," the analyst tells investors.