On Wednesday, Esperion (NASDAQ:ESPR) Therapeutics (NASDAQ:ESPR) maintained its positive outlook with analyst firm H.C. Wainwright reiterating a Buy rating and a $16.00 price target for the company's stock.
The endorsement follows the European Commission's approval of expanded indications for Esperion's drugs, NILEMDO (bempedoic acid or BDA) and NUSTENDI (BDA plus ezetimibe), which are now sanctioned for cardiovascular risk reduction and LDL-C lowering in patients, with or without statin use.
The expanded labels cater to both primary and secondary prevention patients and are backed by the successful Phase 3 CLEAR Outcomes trial. The study involved nearly 14,000 participants who were at risk or had cardiovascular disease, demonstrating significant reductions in major adverse cardiac events (MACE) among statin-intolerant patients. This data emphasizes BDA's efficacy in high-risk patient groups.
Esperion and its partner Daiichi Sankyo Europe GmbH (DSE) (TSE: 4568; not rated) made the announcement, which comes as a continuation of the positive trend set in March 2024, when the Committee for Medical Products for Human Use (CHMP) first gave favorable opinions for the label expansion.
Initially, in 2020, both NILEMDO and NUSTENDI were approved in Europe as an adjunct to diet and statin therapy for treating adults with primary hyperlipidemia, including those with heterozygous familial hypercholesterolemia (HeFH) or atherosclerotic cardiovascular disease (ASCVD), who needed additional LDL-C reduction.
InvestingPro Insights
Following the recent positive developments for Esperion Therapeutics, InvestingPro data and tips offer additional insights into the company's financial health and market performance. With a market capitalization of $466.07 million, Esperion has shown a remarkable revenue growth of 183.74% over the last twelve months as of Q1 2024. This surge is further underscored by a quarterly revenue growth of 466.14% in Q1 2024. The company's gross profit margin stands at a healthy 52.2%, although it is currently not profitable, with an adjusted P/E ratio of -5.43.
InvestingPro Tips reveal that analysts have revised their earnings upwards for the upcoming period, reflecting optimism about the company's future performance. Moreover, three analysts anticipate sales growth in the current year, which may be linked to the expanded indications for Esperion's drugs and the subsequent potential increase in market reach. However, it is noted that the company is not expected to be profitable this year, and it does not pay dividends to shareholders.
For investors seeking to delve deeper into Esperion's prospects, there are additional InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/ESPR. As a special offer, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and explore the full range of insights and analytics that InvestingPro provides.
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