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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating and $9.00 price target on Esperion Therapeutics (NASDAQ:ESPR), citing the company’s manageable expenses and strategic partnership with Daiichi Sankyo. The stock, currently trading at $2.65, has shown strong momentum with a 179% surge over the past six months. According to InvestingPro data, analyst targets range from $1.60 to $16.00, with two analysts recently revising earnings estimates upward.
The research firm highlighted that Daiichi Sankyo is funding the costs of the triple-therapy study, while Esperion covers only the bioequivalent study expenses for U.S. filing, resulting in minimal impact on Esperion’s R&D budget.
Cantor Fitzgerald noted Esperion’s significant competitive advantage from its OUTCOMES data, which the firm believes will take time for competitors to replicate with similar studies.
The research firm acknowledged that despite potential competition, the lipid-lowering therapy market remains large enough to accommodate multiple therapies simultaneously.
Cantor Fitzgerald emphasized that heart diseases continue to be the largest global killer, supporting the ongoing market opportunity for Esperion’s treatments.
In other recent news, Esperion Therapeutics announced a $75 million public offering of common stock, pricing 30 million shares at $2.50 each. The offering is expected to generate significant capital before deducting underwriting discounts, commissions, and expenses. Additionally, Esperion has granted underwriters a 30-day option to purchase up to an additional 4.5 million shares. The company also reached a settlement with Dr. Reddy’s Laboratories regarding patent litigation for its cholesterol-lowering drugs, NEXLETOL and NEXLIZET, preventing the marketing of generic versions in the U.S. before April 19, 2040. This marks Esperion’s fourth settlement with generic drug manufacturers. H.C. Wainwright reiterated its Buy rating and $16.00 price target on Esperion following the company’s nomination of ESP-2001 for its new Primary Sclerosing Cholangitis program. These developments reflect ongoing strategic moves by Esperion to strengthen its financial and market position.
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