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Credit Suisse Changes Its View On Esperion Therapeutics, Raises Price Target

Jim Swanson

Esperion Therapeutics Inc (NASDAQ: ESPR) reported encouraging top line results from its Phase 2 -035 and Phase 1 -037 trials, which Credit Suisse’s Vamil Divan believes addresses questions regarding the safety of combined bempedoic acid with high dose statins.

Divan maintained an Underperform rating on the company, while raising the price target from $10 to $14.

Encouraging Results

“Our POS for bempedoic acid making it to the market is now 75 percent and we also believe there is a 75 percent chance that the FDA will allow them to make it to the market prior to the completion of the CLEAR Outcomes trial,” the analyst mentioned.

However, Divan also pointed to outstanding questions regarding the competitive and regulatory landscape that Esperion would need to navigate.

Trial Results

For -035, the study results do reveal drug-related adverse effects, such as muscle cramps and intermittent myalgias, although the overall safety profile was “very reassuring.”

The results also reveal a 22 percent decrease in LDL-C levels, as compared to the placebo group, with 35 percent reduction in hsCRP levels.

“From a PK perspective, a 22 percent increase in the area under the curve in -035 is also reassuring and helps alleviate some of the concerns that we previously had,” Divan stated.

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Latest Ratings for ESPR

Date Firm Action From To
Jul 2016 UBS Downgrades Buy Neutral
Jul 2016 Wallachbeth Downgrades Hold
Jun 2016 Barclays Downgrades Overweight Equal-Weight

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