Epizyme, Inc. (NASDAQ:EPZM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $16.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 17.22% from the company’s previous close.

According to Zacks, “Epizyme's efforts on developing its lead candidate, tazemetostat, for a number of hematological malignancies and genetically defined solid tumors are impressive. Additionally, its attempts to evaluate tazemetostat in combination with anti-PD 1 or PDL-1 agent are also encouraging. We believe, the  company’s collaboration agreement with Celgene for small-molecule HMT inhibitors including pinometostat is a big positive. Epizyme’s share price has also outperformed the Zacks classified Medical/Biomedical Genetics industry year to date. However, with no approved product in its portfolio, Epizyme is highly dependent on its collaboration partners for top-line growth. Loss estimates have narrowed mostly stable lately ahead of the Q2 results. Epizyme has a positive record of earnings surprises in the recent quarters.”

A number of other equities analysts have also weighed in on EPZM. Cowen and Company reaffirmed a “buy” rating on shares of Epizyme in a research report on Wednesday, June 7th. Oppenheimer Holdings, Inc. assumed coverage on Epizyme in a research report on Thursday, April 13th. They set an “outperform” rating and a $26.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $24.00 target price on shares of Epizyme in a research report on Thursday, May 18th. Leerink Swann reaffirmed an “outperform” rating and set a $31.00 target price on shares of Epizyme in a research report on Friday, June 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 target price (up from $19.00) on shares of Epizyme in a research report on Wednesday, May 10th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.75.

Shares of Epizyme (NASDAQ:EPZM) traded down 3.87% during mid-day trading on Tuesday, reaching $13.65. 302,094 shares of the company’s stock traded hands. The company has a 50 day moving average of $14.52 and a 200 day moving average of $13.96. The company’s market cap is $796.59 million. Epizyme has a 12 month low of $7.02 and a 12 month high of $18.50.

Epizyme (NASDAQ:EPZM) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.07. Epizyme had a negative return on equity of 55.41% and a negative net margin of 1,376.33%. Analysts expect that Epizyme will post ($2.42) earnings per share for the current fiscal year.

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In other Epizyme news, insider Peter Tai-Ching Ho sold 15,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $16.11, for a total value of $241,650.00. Following the completion of the transaction, the insider now owns 22,228 shares in the company, valued at approximately $358,093.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert A. Copeland sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $17.44, for a total value of $87,200.00. Following the completion of the transaction, the insider now owns 36,538 shares of the company’s stock, valued at approximately $637,222.72. The disclosure for this sale can be found here. Insiders sold a total of 40,524 shares of company stock valued at $632,397 over the last three months. 25.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in EPZM. Principal Financial Group Inc. increased its position in shares of Epizyme by 0.5% in the first quarter. Principal Financial Group Inc. now owns 94,173 shares of the biopharmaceutical company’s stock worth $1,615,000 after buying an additional 515 shares during the period. Legal & General Group Plc increased its position in shares of Epizyme by 8.9% in the first quarter. Legal & General Group Plc now owns 9,684 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 795 shares during the period. American International Group Inc. increased its position in shares of Epizyme by 7.1% in the first quarter. American International Group Inc. now owns 24,779 shares of the biopharmaceutical company’s stock worth $425,000 after buying an additional 1,638 shares during the period. Woodstock Corp increased its position in shares of Epizyme by 5.5% in the second quarter. Woodstock Corp now owns 37,078 shares of the biopharmaceutical company’s stock worth $560,000 after buying an additional 1,945 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Epizyme by 3.1% in the first quarter. Teachers Advisors LLC now owns 69,922 shares of the biopharmaceutical company’s stock worth $1,199,000 after buying an additional 2,093 shares during the period. Hedge funds and other institutional investors own 81.63% 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 is engaged in the discovery and development of novel epigenetic therapies for cancer patients. The Company develops small molecule inhibitors of a class of enzymes known as histone methyltransferases (HMTs).

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Analyst Recommendations for Epizyme (NASDAQ:EPZM)

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