Esperion initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Kristen Kluska initiated coverage of Esperion (ESPR) with an Overweight rating and $8 price target. The company markets the oral ATP-citrate lyase inhibitors, Nexletol and Nexlizet, for LDL-C lowering and cardiovascular risk reduction, the analyst tells investors in a research note. The firm says the shares have been down recently on competitive concerns from NewAmsterdam’s (NAMS) CETP inhibitor, obicetrapib, which recently had positive Phase 3 data. However, investors are missing the fact that Nexletol and Nexlizet work in a validated pathway and have well-characterized effects on lipid metabolism, contends Cantor. The firm believes the selloff creates an attractive entry position for Esperion.