Small-cap biotech Esperion to be taken private by ARCHIMED; shares jump more than 50%

Esperion Therapeutics shares, a small cap maker of cholesterol-lowering drugs, surged almost 56% on Friday to hit a two-month high after the company announced it would be acquired by funds managed by healthcare-focused investment firm ARCHIMED.

Esperion stock jumped almost 56% on the Nasdaq on Friday to $3.11 per share, its highest level since late February.

Markets were reacting to the drugmaker’s announcement that it would be acquired by funds managed by ARCHIMED. The deal values Esperion at up to $1.1 billion, or $3.16 per share. That is 58% above the stock’s closing price on Thursday.

Current Esperion shareholders may also receive up to an additional $100 million in two tranches tied to the future sales performance of the company’s drugs.

Esperion’s board has already approved the transaction. The parties expect to close the deal in the third quarter of this year, subject to approval by the small-cap company’s shareholders, as well as regulators. After that, Esperion shares will stop trading on the exchange.

Esperion develops and markets therapies for cardiometabolic diseases. Two of its drugs are designed to lower levels of “bad” cholesterol, reducing the risk of cardiovascular disease. They have already been approved in 40 countries worldwide.

The third is a nasal spray for the treatment of edema associated with congestive heart failure. It was developed by Corstasis Therapeutics, which Esperion acquired just one month ago.

For 2025, the company reported revenue growth of 21% to $403.1 million. It linked the results to expansion in the U.S. market, including broader insurance coverage for patients.

At the same time, while reporting its 2025 results, the company unveiled its Vision 2040 program aimed at building a multiproduct company and expanding into rare renal and hepatic diseases. Noble Capital Markets believes ARCHIMED could accelerate Esperion’s international commercialization.

Following the fourth quarter, Esperion shares ranked among the 10 most popular smid-cap biotechs held by hedge funds.

After the ARCHIMED deal announcement, investment banks Jefferies and HC Wainwright downgraded Esperion and now recommend “hold.” Three other Wall Street analysts have that recommendation, while one rates the stock “buy.” The average target price for Esperion is $3.55 per share, implying 12% upside versus ARCHIMED’s offer price.