The stock of Esperion Therapeutics, Inc. (NASDAQ:ESPR) is now priced at $33.48 and the shares are -3.52 points down or -9.51% lower compared to its previous closing price of $37. The stock had 1.929 million contracts set over the past session. ESPR shares’ daily volume is compared to its average trading volume at 668885 shares. However, it has a float of 27.35 million and although its performance was -8.46% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ESPR share price recently placing at $36.3 to $38.5.
The shorts are climbing into the Esperion Therapeutics, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ESPR shares have risen. Short interest in the stock represents just 38.33% of its float, but the volume has raised by 399811. The volume of shorted shares rised to 10.882 million from 10.482 million shares over the last two weeks. The average intraday trading volume has been 566012 shares, which means that days to cover moved to roughly 19.225948.
In the last trading session, Esperion Therapeutics, Inc. (NASDAQ:ESPR) dropped by -$6.19 over the week and lost -$14.09 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $76.98. The stock recorded its established 52-week high on 02/13/20.
Since 03/16/20, the stock has traded to a low of $24.82 at 34.89%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.9. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Esperion Therapeutics, Inc.’s two-week RSI is 27.2. This suggests that the stock is overbought at the moment and that ESPR shares’ price movement remains not stable. The stochastic readings are equally revealing at 6.37% meaning the ESPR share price is currently in overbought territory.
The technical chart shows that the ESPR stock will likely settle at between $38.23 and $39.47 per share. However, if the stock dips below $36.03, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $35.07.
Currently, the stock is trading in the red of MACD, with a reading of -2.01. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Credit Suisse cut their recommendation for ESPR from Outperform to Neutral in August 11 review while maintai their target price of $83 to $45. BofA/Merrill analysts see the stock as a Buy with a target price of $50 in a flash note released to investors on April 01 resuming covering the stock. Citigroup seeing the improvements upgraded the stock from Neutral to Buy on March 17.
The average rating for the ESPR equity is 1.64 and is currently gathering a bullish momentum. Of 11 analysts tracking Esperion Therapeutics, Inc. polled by Reuters, 2 rated ESPR as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (9) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Esperion Therapeutics, Inc. (NASDAQ:ESPR) will decrease by about -91.96%, which will see them reach $147.97 million. The company’s full-year revenues are, however, expected to increase by about 60.45%, up from $148.36 million to $238.05 million. ESPR’s expected adjusted earnings should drop almost -185.07% to end up at $1.71 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 44.29% to record -$5.18/share.