Epizyme (EPZM) Price Target Cut to $11.00 by Analysts at Morgan Stanley

Epizyme (NASDAQ:EPZM) had its target price decreased by Morgan Stanley from $12.00 to $11.00 in a research note released on Monday morning. Morgan Stanley currently has a hold rating on the biopharmaceutical company’s stock.

EPZM has been the subject of several other reports. Zacks Investment Research downgraded Epizyme from a hold rating to a sell rating in a research note on Tuesday, October 16th. BidaskClub upgraded Epizyme from a sell rating to a hold rating in a research note on Thursday, August 16th. Leerink Swann began coverage on Epizyme in a research note on Monday, September 24th. They set a market perform rating and a $11.00 target price for the company. ValuEngine downgraded Epizyme from a hold rating to a sell rating in a research note on Friday, August 3rd. Finally, Cann reiterated a buy rating and set a $27.00 target price on shares of Epizyme in a research note on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $20.50.

EPZM stock traded up $0.03 during mid-day trading on Monday, reaching $7.81. The company had a trading volume of 5,209 shares, compared to its average volume of 700,150. The company has a market cap of $624.29 million, a price-to-earnings ratio of -3.57 and a beta of 1.89. Epizyme has a 52 week low of $7.41 and a 52 week high of $21.40.

Epizyme (NASDAQ:EPZM) last issued its earnings results on Friday, November 2nd. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.07. On average, equities analysts forecast that Epizyme will post -2.11 EPS for the current fiscal year.

In other news, Director David M. Mott purchased 416,667 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The stock was acquired at an average cost of $9.00 per share, with a total value of $3,750,003.00. Following the acquisition, the director now owns 12,088 shares in the company, valued at approximately $108,792. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its holdings in Epizyme by 22.0% in the 3rd quarter. Alps Advisors Inc. now owns 122,992 shares of the biopharmaceutical company’s stock valued at $1,304,000 after acquiring an additional 22,150 shares in the last quarter. Northern Trust Corp raised its holdings in Epizyme by 12.1% in the 2nd quarter. Northern Trust Corp now owns 651,179 shares of the biopharmaceutical company’s stock valued at $8,823,000 after acquiring an additional 70,281 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Epizyme by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 225,764 shares of the biopharmaceutical company’s stock valued at $3,058,000 after acquiring an additional 6,012 shares in the last quarter. Redmile Group LLC raised its holdings in Epizyme by 0.5% in the 2nd quarter. Redmile Group LLC now owns 2,021,389 shares of the biopharmaceutical company’s stock valued at $27,390,000 after acquiring an additional 9,400 shares in the last quarter. Finally, Opaleye Management Inc. raised its holdings in Epizyme by 292.9% in the 2nd quarter. Opaleye Management Inc. now owns 275,000 shares of the biopharmaceutical company’s stock valued at $3,726,000 after acquiring an additional 205,000 shares in the last quarter. 74.09% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Epizyme (NASDAQ:EPZM)

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