Epizyme (NASDAQ:EPZM) Price Target Cut to $11.00 by Analysts at Morgan Stanley

Epizyme (NASDAQ:EPZM) had its price objective decreased by equities research analysts at Morgan Stanley from $14.00 to $11.00 in a report released on Monday, PriceTargets.com reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective points to a potential upside of 42.12% from the company’s previous close.

Several other research firms have also issued reports on EPZM. Credit Suisse Group initiated coverage on shares of Epizyme in a report on Tuesday, March 30th. They issued an “outperform” rating and a $13.00 target price on the stock. Zacks Investment Research upgraded shares of Epizyme from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, February 9th. Jefferies Financial Group lowered shares of Epizyme from a “buy” rating to a “hold” rating and dropped their target price for the company from $18.00 to $14.00 in a report on Monday, December 21st. Citigroup dropped their price objective on shares of Epizyme from $35.00 to $27.00 in a report on Wednesday, February 24th. Finally, SVB Leerink reiterated a “market perform” rating on shares of Epizyme in a report on Friday, February 5th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Epizyme currently has an average rating of “Buy” and an average price target of $16.00.

Shares of Epizyme stock opened at $7.74 on Monday. The company has a quick ratio of 8.71, a current ratio of 8.95 and a debt-to-equity ratio of 0.33. Epizyme has a twelve month low of $7.44 and a twelve month high of $22.00. The stock has a market cap of $787.82 million, a price-to-earnings ratio of -3.47 and a beta of 1.76. The company’s fifty day moving average is $8.67 and its 200 day moving average is $11.05.

Epizyme (NASDAQ:EPZM) last issued its quarterly earnings data on Monday, February 22nd. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.06). The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $6.55 million. Epizyme had a negative return on equity of 83.45% and a negative net margin of 1,899.35%. Epizyme’s revenue for the quarter was up 95.0% compared to the same quarter last year. As a group, equities analysts anticipate that Epizyme will post -2.23 earnings per share for the current fiscal year.

In other Epizyme news, Director David M. Mott purchased 28,231 shares of the company’s stock in a transaction that occurred on Thursday, March 25th. The shares were bought at an average cost of $7.98 per share, for a total transaction of $225,283.38. Following the purchase, the director now owns 116,414 shares of the company’s stock, valued at approximately $928,983.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert B. Bazemore sold 10,328 shares of the firm’s stock in a transaction on Thursday, March 25th. The shares were sold at an average price of $7.85, for a total transaction of $81,074.80. The disclosure for this sale can be found here. Insiders have sold a total of 27,178 shares of company stock worth $266,862 over the last 90 days. 16.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC lifted its position in Epizyme by 169.1% during the 4th quarter. Penserra Capital Management LLC now owns 2,330 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 1,464 shares during the period. Pacer Advisors Inc. lifted its position in Epizyme by 34.4% during the 4th quarter. Pacer Advisors Inc. now owns 5,508 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 1,409 shares during the period. XTX Markets LLC purchased a new position in Epizyme during the 4th quarter valued at about $124,000. Aperio Group LLC purchased a new position in Epizyme during the 4th quarter valued at about $164,000. Finally, Perigon Wealth Management LLC lifted its position in Epizyme by 34.6% during the 4th quarter. Perigon Wealth Management LLC now owns 18,237 shares of the biopharmaceutical company’s stock valued at $198,000 after acquiring an additional 4,684 shares during the period. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Epizyme Company Profile

Epizyme, Inc, a commercial-stage biopharmaceutical company, discovers, develops, and commercializes novel epigenetic medicines for patients with cancer and other diseases in the United States. The company offers Tazemetostat for the treatment of metastatic or locally advanced epithelioid sarcoma for adults and pediatric patients.

Read More: Hold Rating

Analyst Recommendations for Epizyme (NASDAQ:EPZM)

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