Indaba Capital Management L.P. Sells 30,750,000 Shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR)

Indaba Capital Management L.P. reduced its position in shares of Esperion Therapeutics, Inc. (NASDAQ:ESPR) by 91.1% during the 4th quarter, HoldingsChannel reports. The fund owned 3,000,000 shares of the biopharmaceutical company’s stock after selling 30,750,000 shares during the period. Esperion Therapeutics accounts for 3.2% of Indaba Capital Management L.P.’s portfolio, making the stock its 10th biggest position. Indaba Capital Management L.P.’s holdings in Esperion Therapeutics were worth $6,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Wasatch Advisors LP raised its position in shares of Esperion Therapeutics by 4.9% in the fourth quarter. Wasatch Advisors LP now owns 24,482,258 shares of the biopharmaceutical company’s stock valued at $53,861,000 after buying an additional 1,136,245 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Esperion Therapeutics by 18.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,454,216 shares of the biopharmaceutical company’s stock valued at $5,399,000 after purchasing an additional 385,099 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Esperion Therapeutics by 31.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 932,008 shares of the biopharmaceutical company’s stock worth $2,050,000 after buying an additional 220,730 shares during the last quarter. Sigma Planning Corp lifted its holdings in Esperion Therapeutics by 1,455.8% in the fourth quarter. Sigma Planning Corp now owns 190,441 shares of the biopharmaceutical company’s stock valued at $419,000 after acquiring an additional 178,200 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Esperion Therapeutics by 4.1% in the third quarter. Geode Capital Management LLC now owns 4,331,314 shares of the biopharmaceutical company’s stock worth $7,148,000 after acquiring an additional 171,609 shares during the period. 47.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ESPR. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of Esperion Therapeutics in a report on Friday. The Goldman Sachs Group reduced their price target on shares of Esperion Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. JMP Securities restated a “market outperform” rating and set a $4.00 price target (down previously from $7.00) on shares of Esperion Therapeutics in a report on Tuesday, February 11th. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Esperion Therapeutics in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.42.

Esperion Therapeutics Trading Up 4.4 %

NASDAQ:ESPR opened at $0.92 on Monday. The stock’s 50 day simple moving average is $1.40 and its 200-day simple moving average is $1.96. Esperion Therapeutics, Inc. has a 12-month low of $0.82 and a 12-month high of $3.94. The firm has a market cap of $182.30 million, a P/E ratio of -1.44 and a beta of 0.86.

About Esperion Therapeutics

Esperion Therapeutics, Inc, a pharmaceutical company, develops and commercializes medicines for the treatment of patients with elevated low density lipoprotein cholesterol (LDL-C). Its marketed products include NEXLETOL (bempedoic acid) and NEXLIZET (bempedoic acid and ezetimibe) tablets that are oral, once-daily, non-statin medicines for the treatment of primary hyperlipidemia in adults with heterozygous familial hypercholesterolemia or atherosclerotic cardiovascular disease who require additional lowering of LDL-C.