Epizyme (NASDAQ:EPZM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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.”

A number of other research analysts also recently issued reports on the company. BidaskClub upgraded 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 Epizyme and gave the company a “hold” rating in a report on Friday, September 7th. Cowen restated a “buy” rating on shares of Epizyme in a report on Monday, September 24th. Leerink Swann initiated coverage on Epizyme in a report on Monday, September 24th. They set a “market perform” rating and a $11.00 price target on the stock. Finally, SunTrust Banks boosted their price target on Epizyme to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Epizyme has an average rating of “Hold” and an average target price of $19.83.

Shares of EPZM traded down $0.08 during trading hours on Friday, hitting $6.59. The company had a trading volume of 9,079 shares, compared to its average volume of 506,620. The company has a market cap of $532.80 million, a P/E ratio of -3.03 and a beta of 2.08. Epizyme has a 52-week low of $6.48 and a 52-week high of $21.40.

Epizyme (NASDAQ:EPZM) last released its quarterly earnings data on Friday, November 2nd. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.07. Analysts expect that Epizyme will post -1.93 earnings per share for the current year.

In other Epizyme news, Director David M. Mott purchased 416,667 shares of Epizyme stock in a transaction that occurred on Friday, October 5th. The shares were bought at an average price of $9.00 per share, for a total transaction of $3,750,003.00. Following the acquisition, the director now directly owns 12,088 shares in the company, valued at $108,792. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 21.50% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. purchased a new position in shares of Epizyme during the 1st quarter worth approximately $187,000. BB&T Securities LLC grew its holdings in shares of Epizyme by 45.5% during the 2nd quarter. BB&T Securities LLC now owns 16,000 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 5,000 shares during the period. Shell Asset Management Co. purchased a new position in shares of Epizyme during the 3rd quarter worth approximately $198,000. BlueMountain Capital Management LLC purchased a new position in shares of Epizyme during the 2nd quarter worth approximately $320,000. Finally, Trexquant Investment LP purchased a new position in shares of Epizyme during the 2nd quarter worth approximately $328,000. Hedge funds and other institutional investors own 73.27% of the company’s stock.

About Epizyme

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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