Credit Suisse Defends Esperion Therapeutics (ESPR); Does Not See Impact from PCSK9 Panel

Credit Suisse is the latest firm to come out in defense of Esperion Therapeutics (NASDAQ: ESPR), which fell more than 20% today following the PCSK9 panel discussion yesterday, which some viewed as cautious for the label.

Analyst Jeremiah Shepard said they do not believe the panel discussion will have an impact on the expected discussion with the FDA for the expected Phase III program. He notes the panel voted 13-3 in favor of approval but they will look for the details in the product's label at the time of approval, which is expected on or before the July 24 PDUFA date.

Shepard tells investors to recall that all general LDL lowering therapies have been approved with broad labels, with the exception of Juxtapid and Kynamor which requested a limited label at the time of the NDA filing.

The firm reiterated an Outperform rating and price target of $130.

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 $100.53 yesterday.

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