ANN ARBOR, MI—Warren Eric, the Chief Commercial Officer of Esperion Therapeutics, Inc. (NASDAQ:ESPR), recently sold a portion of his holdings in the company. According to a recent filing with the Securities and Exchange Commission, Eric sold 123 shares of common stock at a price of $2.26 per share, totaling approximately $277. The transaction occurred as the company, with a market capitalization of $425 million, demonstrated strong revenue growth of 187% over the last twelve months.
The transaction, dated January 17, 2025, was executed to satisfy tax obligations related to vested shares of restricted stock units. Following this sale, Eric retains ownership of 159,998 shares in the company. According to InvestingPro analysis, Esperion currently appears undervalued, with analysts anticipating sales growth in the current year. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
Esperion Therapeutics, headquartered in Ann Arbor, Michigan, is known for its focus on developing pharmaceutical preparations. The company maintains a healthy gross profit margin of 64% and has received a "GOOD" Financial Health rating from InvestingPro.
In other recent news, Esperion Therapeutics has been actively navigating financial and strategic moves. The pharmaceutical company announced an increase in its yearly operating expenses, projecting them to range from $215 million to $235 million, which raised concerns among investors. Simultaneously, Esperion issued $100 million in new convertible notes and secured a $150 million loan, aiming to strengthen its financial position and repay a portion of its existing debt.
In terms of analyst coverage, Goldman Sachs resumed its coverage of Esperion with a Neutral rating, while Cantor Fitzgerald initiated coverage with an Overweight rating. H.C. Wainwright maintained a Buy rating for Esperion, reflecting positive reception of the company’s strategic moves.
Esperion also announced a licensing agreement with Neopharm Israel, granting exclusive rights to commercialize its cardiovascular drugs NEXLETOL and NEXLIZET in Israel, Gaza, and the West Bank. This move aligns with the company’s broader international growth strategy.
In terms of financial performance, Esperion reported a 53% year-over-year increase in U.S. net product revenue, totaling $31.1 million, and a total revenue rise to $51.6 million, up from $34 million the previous year. These recent developments underscore Esperion’s ongoing efforts to expand its global reach and enhance its product offerings.
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