Epizyme, Inc. (NASDAQ:EPZM) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Epizyme, Inc. (NASDAQ:EPZM) from a buy rating to a hold rating in a research note issued to investors on Monday, July 17th.

According to Zacks, “Epizyme's efforts on developing its lead candidate, tazemetostat, for a number of hematological malignancies and genetically defined solid tumors are impressive. Additionally, its attempts to evaluate tazemetostat in combination with anti-PD 1 or PDL-1 agent are also encouraging. We believe, the  company’s collaboration agreement with Celgene for small-molecule HMT inhibitors including pinometostat is a big positive. Epizyme’s share price has also outperformed the Zacks classified Medical/Biomedical Genetics industry year to date. However, with no approved product in its portfolio, Epizyme is highly dependent on its collaboration partners for top-line growth.”

Several other equities research analysts have also recently weighed in on EPZM. Cann reiterated an outperform rating and set a $26.00 price target on shares of Epizyme in a research report on Wednesday, April 12th. Oppenheimer Holdings, Inc. initiated coverage on Epizyme in a research report on Thursday, April 13th. They set an outperform rating and a $26.00 price target on the stock. CIBC reiterated an outperform rating on shares of Epizyme in a research report on Thursday, April 13th. Royal Bank Of Canada reiterated an outperform rating and set a $20.00 price target (up from $19.00) on shares of Epizyme in a research report on Wednesday, May 10th. Finally, Wedbush reiterated an outperform rating and set a $24.00 price target on shares of Epizyme in a research report on Thursday, May 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $23.38.

Epizyme (NASDAQ EPZM) traded up 3.15% during trading on Monday, reaching $13.10. 316,586 shares of the company’s stock traded hands. The stock’s market cap is $765.90 million. Epizyme has a 52-week low of $7.02 and a 52-week high of $18.50. The company’s 50 day moving average is $13.80 and its 200-day moving average is $14.38.

Epizyme (NASDAQ:EPZM) last announced its quarterly earnings results on Friday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.08. Epizyme had a negative return on equity of 63.10% and a negative net margin of 1,376.33%. The firm had revenue of $10 million for the quarter, compared to analysts’ expectations of $3.95 million. During the same period in the prior year, the business posted ($0.49) earnings per share. The company’s revenue was up 2027.7% on a year-over-year basis. On average, analysts anticipate that Epizyme will post ($2.43) earnings per share for the current fiscal year.

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In related news, insider Robert A. Copeland sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $13.45, for a total value of $33,625.00. Following the transaction, the insider now directly owns 34,038 shares in the company, valued at $457,811.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrew E. Singer sold 3,024 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $15.50, for a total transaction of $46,872.00. Following the completion of the transaction, the chief financial officer now owns 40,529 shares in the company, valued at $628,199.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,524 shares of company stock worth $746,797. 25.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EPZM. Palo Alto Investors LLC boosted its position in shares of Epizyme by 57.8% in the first quarter. Palo Alto Investors LLC now owns 4,791,051 shares of the biopharmaceutical company’s stock worth $82,167,000 after buying an additional 1,755,255 shares during the last quarter. State Street Corp boosted its position in shares of Epizyme by 49.4% in the fourth quarter. State Street Corp now owns 1,088,635 shares of the biopharmaceutical company’s stock worth $13,173,000 after buying an additional 359,859 shares during the last quarter. American International Group Inc. boosted its position in shares of Epizyme by 7.1% in the first quarter. American International Group Inc. now owns 24,779 shares of the biopharmaceutical company’s stock worth $425,000 after buying an additional 1,638 shares during the last quarter. Woodstock Corp boosted its position in shares of Epizyme by 5.5% in the second quarter. Woodstock Corp now owns 37,078 shares of the biopharmaceutical company’s stock worth $560,000 after buying an additional 1,945 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Epizyme by 11.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,680 shares of the biopharmaceutical company’s stock worth $371,000 after buying an additional 3,269 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

About Epizyme

Epizyme, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and plans to commercialize epigenetic therapies for cancer patients. The Company is engaged in the discovery and development of novel epigenetic therapies for cancer patients. The Company develops small molecule inhibitors of a class of enzymes known as histone methyltransferases (HMTs).

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