Esperion Therapeutics Inc (NASDAQ:ESPR) shareholders are pretty happy today after the company announced that the FDA recently confirmed that ‘Esperion’s LDL-C lowering program is adequate to support approval of an LDL-C lowering indication for bempedoic acid’. The company continues to plan to submit a NDA by the first half of 2019 for n LDL-C lowering indication based on the successful completion of the global pivotal Phase 3 program. Although many analysts expected this news and approval is still years away, shares of the stock have rallied 50% anyway. The number of elite funds with holdings in Esperion Therapeutics Inc (NASDAQ:ESPR) fell by 4 quarter-over-quarter to 8 at the end of December.
Alibaba Group Holding Ltd (NYSE:BABA) shares have popped 2% due to technical buying today. Sentiment around Chinese internet stocks has improved as the previously frothy relationship between the U.S. and China looks to thaw as the two nations work toward resolving the North Korean nuclear issue. Recently Secretary of State Rex Tillerson met with the Chinese President, and President Trump is expected to meet with Xi Jinping soon as well. If the Chinese-U.S. relationship improves, the risk of a damaging trade war is lower. 86 top funds were long Alibaba Group Holding Ltd (NYSE:BABA) as of the most recent 13-F reporting period, down 18 funds from the previous quarter.
Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) has rallied almost 6% after the company reported positive efficacy data from its Phase 3 TONES 3 and TONES 4 studies. The studies analyzed JZP-110 for potential treatment of the excessive sleepiness symptom associated with obstructive sleep apnea. Gary Nachman of BMO Capital reiterates that Jazz is a ‘top pick’ and feels the data substantially de-risks the program. 34 top funds were long Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) at the end of December, down 7 funds from the previous quarter.