Esperion (ESPR) Sell-Off on Amgen Data 'Counter-Intuitive'- Needham & Company

Needham & Company analyst Chad Messer views the sell-off in Esperion Therapeutics (NASDAQ: ESPR) amid Amgen's FOURIER Details counter-intuitive. The analsyt reiterated a Buy rating and price target of $25 on ESPR.

Messer commented, "We find the sell-off in ESPR shares based on details released from Repatha's CVOT (FOURIER) to be counter-intuitive. While the less-than-expected outcomes benefit may not be sufficient to convince payers that Repatha is worth its $14,000+/year price tag, the fact that there was a statistically significant benefit confirms that LDL reductions prevent heart attacks and strokes. Since bempedoic acid will likely be priced more in line with other oral cholesterol therapies (~$3,000/year), we believe the value debate for PCSK9 drugs is actually a positive for ESPR, not a negative."

For an analyst ratings summary and ratings history on Esperion Therapeutics click here. For more ratings news on Esperion Therapeutics click here.

Shares of Esperion Therapeutics closed at $29.65 yesterday.

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