Zacks Investment Research Downgrades Epizyme Inc. (EPZM) to Hold
Epizyme Inc. (NASDAQ:EPZM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Epizyme’s efforts to develop its lead candidate, tazemetostat, for a number of indications are impressive. The company targets to launch tazemetostat globally for both non-Hodgkin lymphoma (NHL) and genetically defined solid tumors by 2020. Moreover, the company’s collaboration agreement with Celgene for small-molecule HMT inhibitors including pinometostat is a big positive. With no approved product in its kitty, Epizyme is highly dependent on its collaboration partners for top-line growth. Moreover, most of its candidates are in early stages of development and hence several years away from commercialization. Any hiccup in the development of these candidates could weigh heavily on the stock. In addition, intense competition in the NHL market is a cause of concern. The loss estimates have gone down lately ahead of the company’s Q3 earnings release. The company also has a mixed record of earnings surprises in recent quarters.”
A number of other research firms also recently commented on EPZM. Leerink Swann reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Epizyme in a report on Tuesday, June 21st. JMP Securities reaffirmed a “buy” rating and set a $28.00 price objective on shares of Epizyme in a report on Thursday, June 23rd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Epizyme in a report on Tuesday, August 9th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $23.11.
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Epizyme (NASDAQ:EPZM) traded down 2.26% during mid-day trading on Wednesday, reaching $8.65. 96,736 shares of the company’s stock traded hands. The company’s market capitalization is $501.32 million. The company has a 50-day moving average of $8.87 and a 200-day moving average of $10.05. Epizyme has a 52-week low of $7.02 and a 52-week high of $18.29.
Epizyme (NASDAQ:EPZM) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.03. Epizyme had a negative net margin of 5,174.49% and a negative return on equity of 43.05%. Equities research analysts expect that Epizyme will post ($2.20) EPS for the current year.
In other Epizyme news, insider Robert A. Copeland sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $10.37, for a total value of $41,480.00. Following the completion of the sale, the insider now owns 35,538 shares in the company, valued at approximately $368,529.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 25.40% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of EPZM. Woodstock Corp boosted its stake in Epizyme by 37.3% in the third quarter. Woodstock Corp now owns 37,800 shares of the biopharmaceutical company’s stock valued at $372,000 after buying an additional 10,266 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Epizyme by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 127,302 shares of the biopharmaceutical company’s stock valued at $1,304,000 after buying an additional 2,250 shares during the last quarter. American Century Companies Inc. bought a new stake in Epizyme during the second quarter valued at $518,000. Palo Alto Investors LLC boosted its stake in Epizyme by 2.1% in the second quarter. Palo Alto Investors LLC now owns 2,711,381 shares of the biopharmaceutical company’s stock valued at $27,765,000 after buying an additional 55,902 shares during the last quarter. Finally, Iguana Healthcare Management LLC bought a new stake in Epizyme during the second quarter valued at $2,048,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.
Epizyme Company Profile
Epizyme, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and plans to commercialize epigenetic therapies for cancer patients. The Company’s segment is the discovery and development of novel epigenetic therapies for cancer patients. It develops small molecule inhibitors of a class of enzymes known as histone methyltransferases, or HMTs.
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