Epizyme (EPZM) Cut to “Sell” at Zacks Investment Research

Epizyme (NASDAQ:EPZM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Epizyme is in the process of reopening enrollment in all of its company-sponsored trials in the United States, including the follicular lymphoma (FL) EZH2 activating mutation cohort of its phase II non-Hodgkin lymphoma study for its lead candidate, tazemetostat's clinical studies after the FDA lifted partial clinical hold on it. Further, the company also delayed the filing of its first NDA for tazemetostat for the treatment of epithelioid sarcoma to the first half of 2019, instead of the fourth quarter of 2018. With no approved product in its portfolio, Epizyme is yet to generate revenues. However, the company's is making efforts to develop tazemetostat for a number of hematological malignancies and genetically defined solid tumors. The company presented encouraging new clinical data regarding tazemetostat’s anti-tumor activity and tolerability in follicular lymphoma and mesothelioma. Loss estimates have narrowed ahead of Q3 release.”

Several other equities analysts have also issued reports on EPZM. BidaskClub lowered shares of Epizyme from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Epizyme in a report on Wednesday, June 27th. ValuEngine upgraded shares of Epizyme from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Leerink Swann lowered shares of Epizyme from an “outperform” rating to a “market perform” rating and set a $24.00 target price on the stock. in a report on Tuesday, July 3rd. Finally, Cowen restated a “buy” rating on shares of Epizyme in a report on Monday, September 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Shares of Epizyme stock traded down $0.06 during trading on Tuesday, hitting $9.19. The company’s stock had a trading volume of 10,003 shares, compared to its average volume of 475,293. Epizyme has a 52 week low of $8.61 and a 52 week high of $21.40. The stock has a market cap of $736.73 million, a price-to-earnings ratio of -4.22 and a beta of 1.65.

Epizyme (NASDAQ:EPZM) last issued its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.11. The business had revenue of $12.00 million during the quarter, compared to the consensus estimate of $0.54 million. During the same period in the prior year, the firm earned ($0.48) EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Epizyme will post -2.14 EPS for the current year.

In other news, Director David M. Mott bought 416,667 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were acquired at an average price of $9.00 per share, for a total transaction of $3,750,003.00. Following the completion of the acquisition, the director now directly owns 12,088 shares in the company, valued at $108,792. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BB&T Securities LLC raised its holdings in shares of Epizyme by 45.5% during the second quarter. BB&T Securities LLC now owns 16,000 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 5,000 shares during the period. Spark Investment Management LLC acquired a new position in shares of Epizyme during the second quarter valued at about $597,000. Trexquant Investment LP acquired a new position in shares of Epizyme during the second quarter valued at about $328,000. Swiss National Bank raised its holdings in shares of Epizyme by 8.0% during the second quarter. Swiss National Bank now owns 90,400 shares of the biopharmaceutical company’s stock valued at $1,225,000 after purchasing an additional 6,700 shares during the period. Finally, UBS Group AG raised its holdings in shares of Epizyme by 846.7% during the first quarter. UBS Group AG now owns 114,740 shares of the biopharmaceutical company’s stock valued at $2,037,000 after purchasing an additional 102,620 shares during the period. Hedge funds and other institutional investors own 85.06% of the company’s stock.

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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