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Is Esperion Therapeutics Worth $130? This Analyst Thinks So

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In a report published Friday, Citi analysts initiated coverage Esperion Therapeutics Inc (NASDAQ: 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.

Latest Ratings for ESPR

Feb 2018UBSMaintainsNeutralNeutral
Feb 2018JP MorganMaintainsNeutralNeutral
Jan 2018CitigroupDowngradesBuyNeutral

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Posted-In: CitiAnalyst Color Initiation Analyst Ratings


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