ANN ARBOR, MI—Benjamin Halladay, the Chief Financial Officer of Esperion (NASDAQ:ESPR) Therapeutics, Inc. (NASDAQ:ESPR), recently sold 3,245 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The $425 million market cap company has shown strong revenue growth of 187% over the last twelve months, though InvestingPro data shows the stock has declined about 9% in the past week. The shares were sold at an average price of $2.424 each, totaling approximately $7,865. Following this transaction, Halladay retains ownership of 240,691 shares in the company. The sale was conducted to satisfy tax obligations on vested restricted stock units. According to InvestingPro's analysis, Esperion maintains a GOOD financial health score, with 8 additional ProTips available to subscribers through the comprehensive Pro Research Report, which provides deep-dive analysis of 1,400+ US stocks.
In other recent news, Esperion Therapeutics has made significant financial and strategic moves. The pharmaceutical company issued $100 million in 5.75% Convertible Senior Subordinated Notes due 2030, as part of a private exchange and subscription transaction. Additionally, Esperion secured a $150 million loan and issued $100 million in convertible notes, a move aimed at repaying a significant portion of its existing $265 million debt. The loan was led by Athyrium Capital Management and HealthCare Royalty.
In terms of analyst coverage, Goldman Sachs (NYSE:GS) resumed its coverage of Esperion, assigning 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.
Esperion's third quarter of 2024 financial performance showed 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 financial results underscore Esperion's ongoing efforts to expand its global reach and enhance its product offerings.
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