Epizyme (EPZM) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Epizyme (NASDAQ:EPZM) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $8.25 price objective on the biopharmaceutical company’s stock.
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 firms have also weighed in on EPZM. Cowen reaffirmed a buy rating on shares of Epizyme in a research note on Monday, September 24th. BidaskClub raised shares of Epizyme from a sell rating to a hold rating in a research note on Thursday, August 16th. SunTrust Banks raised their price objective on shares of Epizyme to $25.00 and gave the company a buy rating in a research note on Tuesday, September 25th. Leerink Swann assumed coverage on shares of Epizyme in a research note on Monday, September 24th. They issued a market perform rating and a $11.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on shares of Epizyme in a research note on Friday, September 7th. They issued a weight rating on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $19.83.
Epizyme (NASDAQ:EPZM) last posted its quarterly earnings results on Friday, November 2nd. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.07. Equities analysts predict that Epizyme will post -1.93 EPS for the current fiscal year.
In other news, Director David M. Mott purchased 416,667 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were bought at an average cost of $9.00 per share, with a total value of $3,750,003.00. Following the completion of the transaction, the director now directly owns 12,088 shares of the company’s stock, valued at $108,792. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new position in shares of Epizyme during the first quarter valued at about $187,000. Shell Asset Management Co. purchased a new stake in Epizyme during the third quarter worth about $198,000. BB&T Securities LLC increased its holdings in Epizyme by 45.5% during the second quarter. BB&T Securities LLC now owns 16,000 shares of the biopharmaceutical company’s stock worth $216,000 after buying an additional 5,000 shares during the last quarter. BlueMountain Capital Management LLC purchased a new stake in Epizyme during the second quarter worth about $320,000. Finally, Trexquant Investment LP purchased a new stake in Epizyme during the second quarter worth about $328,000. 73.27% of the stock is currently owned by institutional investors.
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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