Zacks Investment Research upgraded shares of Epizyme, Inc. (NASDAQ:EPZM) from a hold rating to a buy rating in a report released on Wednesday, July 12th. The firm currently has $16.00 price objective on the biopharmaceutical company’s stock.
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.”
Other equities analysts have also issued research reports about the stock. Oppenheimer Holdings, Inc. set a $26.00 price objective on shares of Epizyme and gave the company a buy rating in a research report on Wednesday, June 14th. Royal Bank Of Canada set a $20.00 target price on shares of Epizyme and gave the stock a buy rating in a report on Monday, June 12th. Cowen and Company restated a buy rating on shares of Epizyme in a report on Wednesday, June 7th. HC Wainwright restated a buy rating and issued a $25.00 target price on shares of Epizyme in a report on Wednesday, June 7th. Finally, Cann reiterated a buy rating and set a $26.00 price objective on shares of Epizyme in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. Epizyme has an average rating of Buy and an average price target of $23.38.
Shares of Epizyme (NASDAQ:EPZM) opened at 13.10 on Wednesday. The company has a 50-day moving average price of $13.80 and a 200-day moving average price of $14.38. Epizyme has a 12-month low of $7.02 and a 12-month high of $18.50. The firm’s market capitalization is $765.90 million.
Epizyme (NASDAQ:EPZM) last released its quarterly earnings data on Friday, August 4th. The biopharmaceutical company reported ($0.48) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.08. Epizyme had a negative net margin of 1,376.33% and a negative return on equity of 63.10%. The business had revenue of $10 million during the quarter, compared to analyst estimates of $3.95 million. During the same quarter last year, the business earned ($0.49) earnings per share. Epizyme’s quarterly revenue was up 2027.7% compared to the same quarter last year. Equities analysts predict that Epizyme will post ($2.43) EPS for the current year.
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In other Epizyme news, insider Peter Tai-Ching Ho sold 15,000 shares of Epizyme stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $13.44, for a total transaction of $201,600.00. Following the completion of the sale, the insider now directly owns 22,228 shares in the company, valued at approximately $298,744.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew E. Singer sold 3,024 shares of the business’s stock in a transaction on Friday, June 30th. The shares were 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 of the company’s stock, valued at $628,199.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,524 shares of company stock worth $746,797. 25.20% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. Palo Alto Investors LLC raised its stake 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 valued at $82,167,000 after buying an additional 1,755,255 shares during the last quarter. State Street Corp raised its stake 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 valued at $13,173,000 after buying an additional 359,859 shares during the last quarter. American International Group Inc. raised its stake in 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 raised its stake in 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 raised its stake in 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. 81.30% of the stock is owned by institutional investors.
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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