Nice profit good. i'm Betting ESPR (20,50 $) with 360$ in option but playing leverage effect like holding 300 shares : pure speculation read :
Why Esperion Therapeutics, Inc. Is Soaring Today
What happened
Shares of Esperion Therapeutics (NASDAQ:ESPR), a clinical-stage biopharma focused on developing drugs that treat cardiovascular disease, jumped 24% as of 3:15 p.m. EST in response to good clinical news from Amgen (NASDAQ:AMGN).
So what
Amgen announced on Thursday that its PCSK9 inhibitor Repatha met its primary and secondary endpoints in its FOURIER trial. This study was evaluating whether Repatha reduces the risk of cardiovascular events in patients with cardiovascular disease. Amgen said that Repatha "significantly reduced the risk of cardiovascular events," but the details from the trial won't be available until mid-march.
Traders are bidding up shares of Esperion in response to this news on the theory that Amgen's positive clinical data will increase the chance of Esperion's cholesterol-lowering drug, bempedoic acid (ETC-1002), winning approval from the U.S. Food and Drug Administration (FDA) once its own cardiovascular outcomes trial is completed. If true, that hints that Esperion's stocks could be undervalued.
That view is shared by a handful of analysts. JMP Securities reiterated its outperform rating on the company's stock today and restated its $41 price target. Chad Messer, an analyst at Needham & Company, also said that shares are "significantly undervalued" right now, even after accounting for today's gain.
Given the steam of bullishness, it's no wonder shares are rallying.
The reason I need Good DD's :
