Investing.com - Esperion Therapeutics (NASDAQ:ESPR) stock rose after H.C. Wainwright reiterated its Buy rating and $16.00 price target on the company. The stock, currently trading at $2.65, has shown remarkable momentum with a 179% gain over the past six months. According to InvestingPro data, analysts maintain a moderate buy consensus with price targets ranging from $1.60 to $16.00.
The firm maintained its positive stance following Esperion's Wednesday announcement that it had nominated ESP-2001 as the preclinical candidate for its new Primary Sclerosing Cholangitis (PSC) program.
ESP-2001 was discovered using Esperion's expertise in ACLY therapy and Evotec's integrated high-throughput, structure-based drug discovery INDiGO platform, showing consistent reductions in inflammation and fibrosis markers in disease models.
The company plans to complete IND-enabling studies in collaboration with Evotec before initiating a first-in-human Phase 1 trial anticipated in 2026.
H.C. Wainwright views this development as an important milestone for Esperion's pipeline expansion, noting that ESP-2001 could address a critical gap for PSC patients who currently have no approved therapies.
In other recent news, Esperion Therapeutics has announced a public offering of 30 million shares of its common stock, priced at $2.50 per share, aiming to raise approximately $75 million in gross proceeds. This move is part of the company's strategy to generate capital, with an option for underwriters to purchase an additional 4.5 million shares within 30 days. In a related development, Esperion has settled a patent litigation case with Dr. Reddy's Laboratories concerning its cholesterol-lowering drugs, NEXLETOL and NEXLIZET. The agreement prevents Dr. Reddy's from marketing generic versions of these medications in the United States before April 19, 2040. This settlement marks the fourth such agreement Esperion has reached with generic drug manufacturers. Additionally, H.C. Wainwright has maintained a "Buy" rating on Esperion's stock following these developments. These recent activities reflect Esperion's ongoing efforts to strengthen its financial position and protect its intellectual property.
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