Esperion earns positive views at H.C. Wainwright on prospects for cholesterol drugs – Seeking Alpha
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H.C. Wainwright has started the coverage on Esperion Therapeutics (ESPR +2.7%) with a Buy recommendation on Thursday, citing the commercial-stage pharma company’s lead products Nexletol (bempedoic acid) and Nexlizet (bempedoic acid and ezetimibe).
The oral non-statin cholesterol-lowering agents were cleared by U.S. and EU regulators in 2020 for patients with atherosclerotic cardiovascular disease (ASCVD) or heterozygous familial hypercholesterolemia, (HeFH).
Citing the Phase 3 data for Nexletol, which indicated a strong efficacy level for the therapy alone and in combination with ezetimibe, the firm notes that Nexletol and Nexlizet with the current label are on track “to address a significant unmet medical need,” affecting about 8.7 million patients in the U.S. alone.
With the CLEAR outcomes trial, the company is targeting a broader label for Nexletol in reducing the risk of major adverse cardiovascular events (MACE) in patients who are intolerant to any dosage of statin.
According to analyst Emanuela Branchetti, that patient group represents a fifth of ASCVD patients or nearly 10 million patients. Branchetti has a $22 per share target on Esperion (NASDAQ:ESPR) compared to its average Street target of $9.15 per share.