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Should You Sell Esperion Therapeutics (ESPR)?

Tourlite Capital Management, an investment management firm, released its fourth quarter 2023 investor letter, a copy of which can be downloaded here. Tourlite Fund, LP Founder Class returned 1.1% for Q4 2023 and 8.8% for the year. Since its inception in April 2022, the fund returned 14.3% compared to 8.4%, and 0.5% returns for the S&P 500 and Russell 2000 indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Tourlite Capital Management featured stocks such as Esperion Therapeutics, Inc. (NASDAQ:ESPR) in the fourth quarter 2023 investor letter. Headquartered in Ann Arbor, Michigan, Esperion Therapeutics, Inc. (NASDAQ:ESPR) is a pharmaceutical company.  On February 14, 2024, Esperion Therapeutics, Inc. (NASDAQ:ESPR) stock closed at $2.61 per share. One-month return of Esperion Therapeutics, Inc. (NASDAQ:ESPR) was 21.40%, and its shares lost 53.06% of their value over the last 52 weeks. Esperion Therapeutics, Inc. (NASDAQ:ESPR) has a market capitalization of $466.989 million.

Tourlite Capital Management made the following regarding Esperion Therapeutics, Inc. (NASDAQ:ESPR) in its fourth quarter 2023 investor letter:

"Esperion Therapeutics, Inc. (NASDAQ:ESPR): Our thesis was driven by a catalyst tied to a significant litigation payout expected in Q1 2024. As the year ended, Esperion's stock saw substantial appreciation. The $125 million settlement received in January, while falling short of the initial $300 million expectation, extended the business's cash runway. Due to the stock selling off on the litigation announcement, it resulted in a small detraction from performance in January. As our thesis has played out, we exited our position in January."

A close-up of a staff member counting pills in a pharmaceutical warehouse.

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Esperion Therapeutics, Inc. (NASDAQ:ESPR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Esperion Therapeutics, Inc. (NASDAQ:ESPR) at the end of third quarter which was 26 in the previous quarter.

We discussed Esperion Therapeutics, Inc. (NASDAQ:ESPR) in another article and shared the list of hot penny stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.