Here's Why Shares Of Esperion Therapeutics (ESPR) Popped Today

In a week full of good news for Esperion Therapeutics (NASDAQ:ESPR) , shares of the company closed the day up 10% to $48.28 per share.

On Monday, ESPR received approval from the FDA to begin a phase III bridging study of an ongoing study on bempedoic acid. Esperion Therapeutics is a pharmaceutical company focused on developing and commercializing oral, low-density lipoprotein cholesterol, or LDL-C.

Esperion is currently evaluating bempedoic acid as monotherapy in an ongoing phase III study for a LDL-C lowering indication. The FDA approved a bridging study to be conducted alongside that one to support the approval of a once-daily, oral combination pill that has both bempedoic acid and ezetimibe.

These two therapies strengthen Esperion’s product offerings as both are convenient and cost-effective therapies that can be administered orally. The combination pill could also potentially reach far more patients than the bempedoic acid one alone, creating an opportunity for growth and profit.

Additionally, Stifel Nicolaus restated Esperion stock as a “buy” rating on Monday. Then, on Tuesday, Stifel Financial Corporation (NYSE:SF) acquired 16,883 shares of the company’s stock, investing approximately $601,000. This investment is the latest of financial corporations buying shares of the pharmaceutical company.

And on Tuesday, ESPR traded an unusually high volume of stock, as 1.63 million shares traded hands in 10,832 trades. Over the last month, the company averaged a daily volume of 639,366 shares.

In general, a company benefits when its stock experiences a sudden spike in trading volume. An increase in volume traded means there is greater awareness of the company, which could potentially help the stock rise in price. The rise in volume also creates support and stability for price advances.

ESPR remains a Zacks Rank #3 (Hold). The pharmaceutical company has its work cut out for it, but it has positive growth estimates in the year ahead.

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