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Aegerion Pharmaceuticals, Inc. (NASDAQ: AEGR) is getting pushed toward a sale by several major shareholders, according to a report Wednesday.
Shares of the company gained nearly 12 percent recently, changing hands at $24.40.
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But even including recent gains, Aegerion is off more than 60 percent in the past 12 months and investors want the company to replace Chief Executive Marc D. Beer and put itself on the auction block, according to Reuters.
Citing unnamed sources, the news agency said several of Aegerion's "top 10 investors" have questioned whether Beer is up to the job as CEO in light of several quarterly earnings disappointments and sharp cuts in the company's sales projections for its Juxtapid cholesterol drug.
The company has said Juxtapid has been less successful than expected because of side effects that include gastrointestinal distress.
Beer, 49, was named CEO in 2010 and helped oversee Aegerion's initial public offering and regulatory approval of Juxtapid.
Beer received a rebuke from federal drug regulators about a year ago for comments he made in a TV interview concerning Juxtapid.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.