Epizyme (EPZM) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Epizyme (NASDAQ:EPZM) from a buy rating to a hold rating in a report released on Friday, March 16th.

According to Zacks, “Epizyme reported narrower than expected loss in the fourth quarter of 2017. Epizyme's efforts on developing its lead candidate, tazemetostat, for a number of hematological malignancies and genetically defined solid tumors are impressive. During the fourth quarter of 2017, the company had a productive interaction with the FDA to design the registration strategy for tazemetostat for epithelioid sarcomaand follicular lymphoma (FL) and identified a path to submit for accelerated approval for both the indications. The company plans to file a first new drug application of tazemetostat for epithelioid sarcoma in fourth quarter of 2018 and second NDA for FL in 2019. A potential approval for the candidate will be a significant boost for the company. So far this year, Epizyme’s share price has also outperformed the industry. However, the company is highly dependent on its collaboration partners for top-line growth with no approved product.”

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Several other equities analysts also recently issued reports on the stock. Cann restated a buy rating and set a $26.00 price objective on shares of Epizyme in a report on Tuesday, December 12th. BidaskClub lowered Epizyme from a sell rating to a strong sell rating in a research report on Thursday, December 21st. Jefferies Group reiterated a buy rating and issued a $25.00 target price on shares of Epizyme in a research report on Wednesday, January 24th. Morgan Stanley assumed coverage on Epizyme in a research report on Wednesday, January 10th. They issued an overweight rating and a $20.00 target price on the stock. Finally, ValuEngine upgraded Epizyme from a sell rating to a hold rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $23.50.

EPZM opened at $14.85 on Friday. Epizyme has a 52-week low of $9.30 and a 52-week high of $21.40. The stock has a market cap of $1,031.18, a PE ratio of -6.81 and a beta of 1.96.

Epizyme (NASDAQ:EPZM) last posted its quarterly earnings data on Tuesday, March 13th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.05. The business’s revenue was down 100.0% on a year-over-year basis. sell-side analysts forecast that Epizyme will post -2.37 EPS for the current year.

In other Epizyme news, COO Matthew Ros sold 72,264 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $16.63, for a total value of $1,201,750.32. Following the sale, the chief operating officer now owns 74,867 shares in the company, valued at approximately $1,245,038.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 25.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. University of Notre Dame DU Lac boosted its position in Epizyme by 25.0% in the 3rd quarter. University of Notre Dame DU Lac now owns 191,719 shares of the biopharmaceutical company’s stock worth $3,652,000 after purchasing an additional 38,368 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Epizyme by 42.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 217,168 shares of the biopharmaceutical company’s stock worth $4,138,000 after purchasing an additional 64,721 shares in the last quarter. Macquarie Group Ltd. boosted its position in Epizyme by 105.5% in the 3rd quarter. Macquarie Group Ltd. now owns 41,100 shares of the biopharmaceutical company’s stock worth $783,000 after purchasing an additional 21,100 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Epizyme by 134.3% during the 3rd quarter. Trexquant Investment LP now owns 28,593 shares of the biopharmaceutical company’s stock valued at $545,000 after buying an additional 16,387 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Epizyme by 25.5% during the 3rd quarter. Swiss National Bank now owns 83,700 shares of the biopharmaceutical company’s stock valued at $1,594,000 after buying an additional 17,000 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

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About Epizyme

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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