Epizyme (NASDAQ:EPZM) had its price target cut by equities research analysts at Wedbush from $24.00 to $20.00 in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target suggests a potential upside of 53.85% from the stock’s current price.
A number of other analysts have also commented on the company. SunTrust Banks reissued a “buy” rating and issued a $20.00 target price on shares of Epizyme in a report on Tuesday. BidaskClub lowered Epizyme from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. ValuEngine lowered Epizyme from a “sell” rating to a “strong sell” rating in a report on Monday, April 9th. Zacks Investment Research lowered Epizyme from a “buy” rating to a “hold” rating in a report on Friday, March 16th. Finally, Leerink Swann lifted their price objective on Epizyme from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.50.
Epizyme stock opened at $13.00 on Tuesday. The firm has a market capitalization of $1,063.07, a price-to-earnings ratio of -5.96 and a beta of 1.96. Epizyme has a 12 month low of $9.30 and a 12 month high of $21.40.
Epizyme (NASDAQ:EPZM) last posted its earnings results on Tuesday, March 13th. The biopharmaceutical company reported ($0.52) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.05. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. sell-side analysts expect that Epizyme will post -2.38 earnings per share for the current year.
In related news, COO Matthew Ros sold 72,264 shares of Epizyme stock in a transaction on Monday, February 5th. The stock was sold at an average price of $16.63, for a total transaction of $1,201,750.32. Following the transaction, the chief operating officer now directly owns 74,867 shares in the company, valued at $1,245,038.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Palo Alto Investors LLC lifted its position in Epizyme by 7.2% during the fourth quarter. Palo Alto Investors LLC now owns 6,860,843 shares of the biopharmaceutical company’s stock valued at $86,104,000 after purchasing an additional 462,547 shares in the last quarter. BlackRock Inc. lifted its position in Epizyme by 17.1% during the fourth quarter. BlackRock Inc. now owns 3,965,391 shares of the biopharmaceutical company’s stock valued at $49,766,000 after purchasing an additional 579,662 shares in the last quarter. Redmile Group LLC lifted its position in Epizyme by 59.1% during the fourth quarter. Redmile Group LLC now owns 1,925,689 shares of the biopharmaceutical company’s stock valued at $24,167,000 after purchasing an additional 715,689 shares in the last quarter. Jennison Associates LLC lifted its position in Epizyme by 0.4% during the fourth quarter. Jennison Associates LLC now owns 1,875,528 shares of the biopharmaceutical company’s stock valued at $23,538,000 after purchasing an additional 7,867 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Epizyme by 56.4% during the fourth quarter. Millennium Management LLC now owns 996,687 shares of the biopharmaceutical company’s stock valued at $12,508,000 after purchasing an additional 359,547 shares in the last quarter. Institutional investors own 85.77% of the company’s stock.
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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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