Is Esperion Therapeutics Worth $130? This Analyst Thinks So

Loading...
Loading...
In a report published Friday, Citi analysts initiated coverage
Esperion Therapeutics Inc
ESPR
with a Buy rating and a price target of $130. Since ETC- 1002 already has an established efficacy and safety profile, the analysts expect positive data from the ongoing Phase II 1002-014 trial in patients with both high LDL and high blood pressure in 2Q15. Although the drug exhibited modest benefits for blood pressure, the analysts' baseline assumption is that it would have neutral effect on blood pressure. "Any BP benefits would provide upside potential," they added. In the report Citi noted, "We see an unmet need for ESPR's oral LDL cholesterol lowering agent ETC-1002, and are adding sales to our model in the add-on to statin market, believing barriers placed around PCSK9 inhibitors by payors should drive use in this potentially large market." Citi considers ETC-1002 as an "attractive asset" for any big pharma company looking to expand its primary care and cardiology footprint. "There are few sizable unencumbered assets with multiple positive ph 2 studies." The analysts believe that the most likely timing for a strategic partnership or a strategic acquisition would be after the end of the Phase II meeting in mid-year, but before commencing Phase III registration studies.
Loading...
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorInitiationAnalyst RatingsCiti
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...