In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Esperion, with a price target of $16.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Joseph Pantginis has given his Buy rating due to a combination of factors, primarily focusing on Esperion’s strategic legal settlements and regulatory advancements. The company has successfully secured a settlement agreement with Dr. Reddy’s Laboratories, marking the fourth such agreement that prevents the marketing of generic versions of their drugs NEXLETOL and NEXLIZET in the U.S. until 2040. This move strengthens Esperion’s market exclusivity and reduces the immediate threat of generic competition, which is a significant positive for the company’s future revenue streams.
Additionally, Esperion’s partnership with Otsuka Pharmaceuticals has resulted in regulatory approval for NEXLETOL in Japan, a major market for cardiovascular prevention. This approval not only opens up a new revenue stream but also includes milestone payments and royalties for Esperion, enhancing its financial outlook. The successful Phase 3 trial in Japan, demonstrating significant LDL-C reductions, further supports the potential commercial success of NEXLETOL as a non-statin LDL-C lowering therapy. These strategic moves and positive clinical outcomes underpin Pantginis’s optimistic outlook on Esperion’s stock.
In another report released on September 25, Cantor Fitzgerald also maintained a Buy rating on the stock with a $9.00 price target.