Royal Bank Of Canada Reaffirms “Buy” Rating for Epizyme, Inc. (EPZM)
Epizyme, Inc. (NASDAQ:EPZM)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a research note issued on Friday. They presently have a $20.00 price target on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 16.28% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. HC Wainwright restated a “buy” rating on shares of Epizyme in a research note on Friday, May 19th. BidaskClub cut Epizyme from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Cowen and Company reiterated a “buy” rating on shares of Epizyme in a research note on Wednesday, June 7th. Leerink Swann reiterated an “outperform” rating and set a $28.00 target price (down from $31.00) on shares of Epizyme in a research note on Wednesday, August 9th. Finally, Wedbush reiterated an “outperform” rating and set a $24.00 target price on shares of Epizyme in a research note on Thursday, May 18th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $23.38.
Shares of Epizyme (EPZM) traded up 7.50% during trading on Friday, reaching $17.20. 1,900,596 shares of the company were exchanged. The company’s market capitalization is $1.01 billion. The firm’s 50 day moving average price is $15.11 and its 200 day moving average price is $15.17. Epizyme has a one year low of $8.38 and a one year high of $18.80.
Epizyme (NASDAQ:EPZM) last issued its quarterly earnings data on Friday, August 4th. The biopharmaceutical company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.08. Epizyme had a negative return on equity of 63.10% and a negative net margin of 1,376.33%. The business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $3.95 million. During the same period last year, the business earned ($0.49) EPS. The business’s revenue was up 2027.7% on a year-over-year basis. Equities research analysts forecast that Epizyme will post ($2.39) earnings per share for the current fiscal year.
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In related news, insider Peter Tai-Ching Ho sold 15,000 shares of Epizyme stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $15.68, for a total value of $235,200.00. Following the completion of the sale, the insider now owns 22,228 shares of the company’s stock, valued at approximately $348,535.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew E. Singer sold 3,024 shares of Epizyme stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $15.50, for a total value of $46,872.00. Following the completion of the sale, the chief financial officer now directly owns 40,529 shares of the company’s stock, valued at approximately $628,199.50. The disclosure for this sale can be found here. Insiders have sold a total of 48,024 shares of company stock worth $706,722 over the last quarter. Company insiders own 25.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc increased its holdings in Epizyme by 8.9% in the 1st quarter. Legal & General Group Plc now owns 9,684 shares of the biopharmaceutical company’s stock worth $165,000 after acquiring an additional 795 shares during the last quarter. BlackRock Group LTD increased its holdings in Epizyme by 111.5% in the 1st quarter. BlackRock Group LTD now owns 10,126 shares of the biopharmaceutical company’s stock worth $123,000 after acquiring an additional 5,339 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in Epizyme in the 1st quarter worth about $175,000. Dynamic Technology Lab Private Ltd purchased a new stake in Epizyme in the 2nd quarter worth about $104,000. Finally, BB&T Securities LLC purchased a new stake in Epizyme in the 2nd quarter worth about $181,000. 83.74% of the stock is owned by institutional investors.
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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