Needham analyst Chad Messer kept his Strong Buy rating and $94 price target on Esperion, saying that while the top line data from the long-term safety study of bempedoic acid may have been disappointing relative to consensus, it was within his expectations. Messer notes the study’s findings of 20% LDL reduction over placebo within 12 weeks was “the lower bound” of what was observed in prior data and could be viewed as a “strong result” considering that data can “often revert to the mean”, adding that the latest study also featured a high-risk patient population.
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