Market Overview

Esperion Therapeutics Downgraded By JPMorgan After Concerns With FDA Endpoint

Share:

On a day filled with individual biotech stocks suffering large plunges, Esperion Therapeutics Inc (NASDAQ: ESPR) was one of the bigger movers, falling 40 percent. Esperion gave a regulatory update for ETC-1002. The FDA didn't sign off on lowering of LDL-C as an acceptable regulatory endpoint for approval for treatment of stating-intolerant patients.

JPMorgan wrote in a note that they viewed the news as a overhang in the U.S. as the FDA may still want class-by-class outcomes after the initial approval of LDL-C as a surrogate endpoint. However, JPMorgan noted Esperion may have a path forward with the EMA, as the MAA filing will be judged based on Phase 3 LDL-C lowering efficacy studies starting this year.

Despite this small silver lining, the sell-side firm downgraded Esperion from Overweight to Neutral, while drastically cutting price target from $50 to $15 per share.

Latest Ratings for ESPR

DateFirmActionFromTo
Mar 2019UpgradesUnderweightNeutral
Dec 2018Initiates Coverage OnSell
Oct 2018Initiates Coverage OnBuy

View More Analyst Ratings for ESPR
View the Latest Analyst Ratings

Posted-In: JPMorgabAnalyst Color Biotech Downgrades Analyst Ratings Movers General

 

Related Articles (ESPR)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
ISRGMaintains611.0
EQIXMaintains508.0
LIIMaintains220.0
WPMDowngrades
KEYWDowngrades11.3
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

The Brexit's Impact On Consumer Confidence

BMO Sees Jazz Pharma As 'A Rare Breed In Specialty Pharma'