JMP Securities analyst Jason Butler reiterates an "Outperform" rating on Esperion Therapeutics (ESPR), with a $191 price target, after the company announced a Japanese partnership with Otsuka (OTSKY), for its bempedoic acid franchise.

Otsuka is a strong strategic partner in Japan with an established commercial focus in the cardio-renal space, Butler tells investors in a research note. The analyst points out that Otsuka will pay for all development, regulatory, and commercial costs for Nexletol/Nexlizet in Japan. Esperion in late morning trading is up 6%, or $2.10, to $39.61.