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Top Buys by Directors: Mayleben's $1.1M Bet on ESPR

By Market News Video Staff, Wednesday, September 18, 1:47 PM ET
Play Video: One Reason For Insiders to Buy

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The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $1.1M invested across 5 purchases by Timothy M. Mayleben, CEO at Esperion Therapeutics Inc (NASDAQ:ESPR).

Mayleben bets big on ESPR:

Purchased Insider Title Shares Price/Share Value
03/20/2019 Timothy M. Mayleben President & CEO 5,000 $43.48 $217,400.00
03/29/2019 Timothy M. Mayleben President & CEO 5,000 $40.00 $200,000.00
06/28/2019 Timothy M. Mayleben President & CEO 5,000 $46.00 $230,000.00
08/01/2019 Timothy M. Mayleben President & CEO 5,000 $39.56 $197,800.00
09/06/2019 Timothy M. Mayleben President & CEO 7,500 $34.55 $259,106.60

Mayleben's average cost works out to $40.16/share. In trading on Wednesday, bargain hunters could buy shares of Esperion Therapeutics Inc (NASDAQ:ESPR) and achieve a cost basis lower than Mayleben, with shares changing hands as low as $36.51 per share. Shares of Esperion Therapeutics Inc were changing hands at $36.94 at last check, trading up about 0.6% on Wednesday. The chart below shows the one year performance of ESPR shares, versus its 200 day moving average:

Esperion Therapeutics Inc  Chart

Looking at the chart above, ESPR's low point in its 52 week range is $33.13 per share, with $60.99 as the 52 week high point — that compares with a last trade of $36.94.

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