Esperion Therapeutics Inc ESPR, whose shares are up 50 percent in the past week, might see a further doubling in price, Stephen L. Weiss told Benzinga on Friday.
Weiss is managing partner of Short Hills Capital Partners and a regular CNBC Contributor.
"It's been great. I bought this stock less than a week ago," Weiss said.
The Ann Arbor, Michigan-based development stage company is up over 190 percent in the past three months.
Earlier this week, Esperion issued promising results from a Phase II trial of its cholesterol-lowering drug candidate ETC-1002.
The company also priced an offering of 1.75 million shares at $100 a share, and said it will use proceeds and other capital to complete development of the product.
"What's good about the offering is that they're able to get funds without giving away significant royalties," Weiss said.
"I think it should go up 50 to 100 percent from here," Weiss said.
"It's not without risk though."
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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