Cann reissued their buy rating on shares of Epizyme (NASDAQ:EPZM) in a research report sent to investors on Thursday, August 2nd. They currently have a $27.00 price objective on the biopharmaceutical company’s stock.
“Epizyme’s Q2 loss per share of $0.42 was less than our estimated loss of $0.60. This primarily resulted from an unanticipated milestone payment of $10 million and lower than estimated operating expense of $42.3 million vs. our estimated $46.8 million. Importantly, the NDA for tazemetostat is now expected in H1 2019 rather than our prior expectation of year-end 2018. This results from Epizyme wanting to submit more mature data in the epithelioid sarcoma setting and wanting to have the clinical hold for tazemetostat resolved before filing with FDA.”,” Cann’s analyst commented.
Other analysts also recently issued research reports about the company. HC Wainwright reiterated a buy rating and set a $25.00 price target on shares of Epizyme in a research note on Monday, May 21st. ValuEngine upgraded Epizyme from a strong sell rating to a sell rating in a research note on Wednesday, May 9th. Roth Capital set a $24.00 target price on Epizyme and gave the stock a buy rating in a research note on Tuesday, April 24th. Zacks Investment Research upgraded Epizyme from a hold rating to a buy rating and set a $14.00 target price on the stock in a research note on Friday, July 6th. Finally, BidaskClub downgraded Epizyme from a buy rating to a hold rating in a research note on Tuesday, June 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $22.45.
Shares of Epizyme traded down $0.03, hitting $10.03, during trading hours on Thursday, according to Marketbeat Ratings. The company had a trading volume of 103,001 shares, compared to its average volume of 510,510. Epizyme has a one year low of $8.61 and a one year high of $21.40.
Epizyme (NASDAQ:EPZM) last released its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.42) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.11. The company had revenue of $12.00 million during the quarter, compared to the consensus estimate of $0.54 million. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.48) earnings per share. research analysts expect that Epizyme will post -2.09 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the business. TIAA CREF Investment Management LLC raised its holdings in shares of Epizyme by 2.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 112,844 shares of the biopharmaceutical company’s stock valued at $1,416,000 after acquiring an additional 2,832 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Epizyme by 0.6% in the first quarter. Northern Trust Corp now owns 580,898 shares of the biopharmaceutical company’s stock valued at $10,311,000 after purchasing an additional 3,538 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Epizyme by 9.4% in the first quarter. Rhumbline Advisers now owns 48,210 shares of the biopharmaceutical company’s stock valued at $856,000 after purchasing an additional 4,130 shares during the last quarter. Bailard Inc. increased its holdings in shares of Epizyme by 25.0% in the first quarter. Bailard Inc. now owns 25,000 shares of the biopharmaceutical company’s stock valued at $444,000 after purchasing an additional 5,000 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Epizyme by 11.8% in the first quarter. New York State Common Retirement Fund now owns 52,100 shares of the biopharmaceutical company’s stock valued at $925,000 after purchasing an additional 5,500 shares during the last quarter. 84.87% of the stock is 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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