Zacks Investment Research upgraded shares of Epizyme (NASDAQ:EPZM) from a hold rating to a buy rating in a report published on Monday. The brokerage currently has $9.00 price target 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 in past one year.”
Several other analysts also recently commented on the company. Leerink Swann raised Epizyme from a market perform rating to an outperform rating and set a $12.00 price objective on the stock in a research note on Monday. Oppenheimer set a $27.00 target price on Epizyme and gave the stock a buy rating in a report on Friday, January 4th. ValuEngine cut Epizyme from a hold rating to a sell rating in a report on Wednesday, January 2nd. BidaskClub upgraded Epizyme from a strong sell rating to a sell rating in a report on Thursday, December 27th. Finally, Morgan Stanley lowered their target price on Epizyme from $12.00 to $11.00 and set a hold rating for the company in a report on Monday, November 5th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Epizyme currently has an average rating of Buy and an average price target of $20.00.
Epizyme (NASDAQ:EPZM) last issued 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. Sell-side analysts anticipate that Epizyme will post -1.93 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Shell Asset Management Co. bought a new position in shares of Epizyme in the 3rd quarter valued at about $198,000. BB&T Securities LLC grew its holdings in shares of Epizyme by 45.5% in the 2nd quarter. BB&T Securities LLC now owns 16,000 shares of the biopharmaceutical company’s stock valued at $216,000 after acquiring an additional 5,000 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Epizyme in the 2nd quarter valued at about $320,000. Dynamic Technology Lab Private Ltd bought a new position in Epizyme during the second quarter worth about $345,000. Finally, MetLife Investment Advisors LLC grew its holdings in Epizyme by 50.5% during the third quarter. MetLife Investment Advisors LLC now owns 37,738 shares of the biopharmaceutical company’s stock worth $400,000 after purchasing an additional 12,663 shares during the period. Institutional investors own 73.27% of the company’s stock.
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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