Esperion price target lowered to $4 from $7 at JMP Securities

JMP Securities lowered the firm’s price target on Esperion (ESPR) to $4 from $7 and keeps an Outperform rating on the shares. JMP updated its model ahead of the Q4 earnings report to reflect ongoing progress with bempedoic acid commercial efforts in the U.S. and recent transactions to strengthen the balance sheet, and notes multiple sources of upside to valuation, including ex-U.S. royalties, the analyst tells investors in a research note. The firm expects that the label expansions in 2024 for Nexletol and Nexlizet will continue to drive demand growth for the next several years.