ESPR Surges 16.4% on Piper Sandler Overweight Rating, 144% Upside Outlook

Esperion Therapeutics (ESPR) surged 16.4% in pre-market trading on November 26, 2025, driven by renewed institutional confidence and strategic analyst endorsements. The stock’s sharp rise follows Piper Sandler’s initiation of coverage with an “Overweight” rating, projecting a $9 price target—a 144% upside from its closing price—and citing robust demand for its LDL-lowering therapies. Analysts highlighted expanding payer coverage, global market access, and clinical data reinforcing the drug class’s adoption.

Recent institutional activity further underscores optimism. Institutional ownership of Esperion increased by 9.55% in the last quarter, with funds like Wasatch Advisors boosting portfolio allocations by 88.95%. The put/call ratio of 0.17 signals strong bullish sentiment, while average analyst price targets suggest a 96% potential gain. These metrics align with Piper Sandler’s thesis on long-term growth, fueled by Nexletol and Nexlizet’s market traction and international expansion, including a $90 million milestone payment from partner Otsuka following Japan’s market entry.

The stock’s performance also reflects broader market dynamics. Third-quarter revenue rose 69% year-on-year to $87.3 million, driven by U.S. product sales and collaboration income. However, EBITDA losses persist, with the firm ending Q3 with $92.4 million in cash. Retail traders on platforms like Stocktwits remain “extremely bullish,” citing pipeline advancements and a path toward profitability. Piper Sandler’s valuation model positions Esperion at a 10x 2026 EBITDA multiple, offering high-growth visibility despite current losses.