Zacks Investment Research Lowers Epizyme (EPZM) to Hold

Zacks Investment Research cut shares of Epizyme (NASDAQ:EPZM) from a buy rating to a hold rating in a research report released on Friday morning.

According to Zacks, “Epizyme’s lead candidate, tazemetostat demonstrated clinically meaningful activity, in patients with epithelioid sarcoma, a difficult-to-treat rare cancer. Based on these positive data, the company is confident of its planned new drug application submission for the indication in the first half of 2019. The candidate also showed meaningful activity in patients with follicular lymphoma, both with and without EZH2 activating mutations. Thus, the company is optimistic about the candidate. However, with no approved product in its portfolio, Epizyme is yet to generate revenues. However, the company is making efforts to develop tazemetostat for a number of hematological malignancies and genetically defined solid tumors. Shares of the company have underperformed the industry year to date.”

Other equities research analysts have also issued reports about the stock. Cowen reaffirmed a buy rating on shares of Epizyme in a report on Monday, September 24th. Cann reaffirmed a buy rating and issued a $27.00 price target on shares of Epizyme in a report on Thursday, August 2nd. BidaskClub raised shares of Epizyme from a sell rating to a hold rating in a report on Thursday, August 16th. Morgan Stanley set a $12.00 price target on shares of Epizyme and gave the company a hold rating in a report on Friday, September 7th. Finally, Oppenheimer set a $27.00 price target on shares of Epizyme and gave the company a buy rating in a report on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Epizyme presently has an average rating of Hold and an average price target of $19.83.

Shares of EPZM traded down $0.19 during trading hours on Friday, reaching $7.42. 470,367 shares of the company traded hands, compared to its average volume of 530,740. Epizyme has a 12-month low of $6.90 and a 12-month high of $21.40. The firm has a market capitalization of $602.47 million, a PE ratio of -3.40 and a beta of 1.89.

Epizyme (NASDAQ:EPZM) last posted its quarterly earnings results on Friday, November 2nd. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.07. On average, equities research analysts forecast that Epizyme will post -1.93 EPS for the current fiscal year.

In other news, Director David M. Mott bought 416,667 shares of the stock in a transaction dated Friday, October 5th. The shares were acquired at an average cost of $9.00 per share, with a total value of $3,750,003.00. Following the purchase, the director now directly owns 12,088 shares in the company, valued at approximately $108,792. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 21.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Epizyme by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,570,139 shares of the biopharmaceutical company’s stock worth $48,443,000 after acquiring an additional 84,726 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Epizyme by 85.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 109,711 shares of the biopharmaceutical company’s stock worth $1,163,000 after acquiring an additional 50,478 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Epizyme by 50.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 37,738 shares of the biopharmaceutical company’s stock worth $400,000 after acquiring an additional 12,663 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Epizyme by 259.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 669,300 shares of the biopharmaceutical company’s stock worth $7,095,000 after acquiring an additional 483,300 shares in the last quarter. Finally, Sofinnova Ventures Inc purchased a new stake in shares of Epizyme during the 3rd quarter worth about $3,087,000. 71.03% of the stock is currently owned by institutional investors and hedge funds.

Epizyme Company Profile

Epizyme, Inc, a clinical stage biopharmaceutical company, discovers and develops novel epigenetic medicines for patients with cancer and other diseases in the United States. Its product candidates include tazemetostat, an inhibitor of the EZH2, which is in Phase II clinical trial for patients with relapsed or refractory non-hodgkin lymphoma (NHL); Phase II clinical trial for relapsed or refractory patients with mesothelioma; Phase I dose-escalation and expansion study for children with INI1-negative solid tumors; Phase II clinical trials for patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL); Phase Ib/II clinical trial in elderly patients with DLBCL; and Phase II clinical trial for relapsed or refractory patients with mesothelioma characterized by BAP1 loss-of-function,; and Phase Ib/II clinical trial for the treatment of patients with relapsed or refractory metastatic non-small cell lung cancer, as well as Phase II clinical trial in adult patients with ovarian cancer.

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