NEW YORK (TheStreet) -- Shares of Esperion  (ESPR) - Get Report rose to a 52-week high of $104.24 on Wednesday after Bank of America/Merrill Lynch delivered a significant price target increase on the stock.

The firm reiterated its "buy" rating on Esperion but increased its price target to $115 from $60. The stock closed at $99.60 on Tuesday.

Jim Cramer, Portfolio Manager of the Action Alerts PLUS charitable trust, commented on Esperion in a recent post on Here is what Cramer had to say about the stock:

Where the heck are the profit-takers in these pesky biotechs?

Did you see any of them in yesterday's session? I know I sure didn't. Could there be hope we could see some today off the Fed, one that could give you a chance to get into some Biogen Idec (BIIB) - Get Report before the unveiling of results Friday of its anti-Alzheimer's formulation? That's your best hope.

But if yesterday's trading is a prologue, it just might not be because we are in one of the most prolonged, non-register-ringing moments I can recall.


[H]ow about Esperion, a company that I can't blame for cancelling coming on Mad Money when they decided to raise money in a secondary after an anti-cholesterol pill showed some positive results. It had to strike while the iron was hot because there clearly wasn't enough stock around to sate the buyers. It was almost as if mutual funds wanted to mount a takeover of the darned thing.

Now that's a parabolic move, one that I get because while Esperion's formulation is way behind Regeneron's  (REGN) - Get Report or Amgen's  (AMGN) - Get Report, it DOESN'T require an injection and can be taken in pill form. That's going to be huge no matter what, as going to the doctor every other week for an injection is not acceptable if a pill can come near the same results, which certainly appears to be the case right now. Still, it is amazing that it took rumors of a secondary to stop this stock from rallying more than it did.

- Jim Cramer, 'Remarkable Biotech Runs Continue' originally published 3/18/2015 on

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Bob Lang, co-Portfolio Manager of Trifecta Stocks, had the following to say about Esperion's chart:

This biotech bolted higher on Tuesday with some massive turnover (circled) and is now out of the channel. I suspect it is due for a rest and a pullback to the top edge of the channel could be a good entry. The stock has been a rocket since Oct, up 400% on some great price action. Since December there have been several areas to jump on board (see %R on the bottom). The relative strength is impressive but it is really extended here, I would suggest buying a pullback.

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