Epizyme (EPZM) Stock Price Down 1.4% Following Analyst Downgrade

Epizyme Inc (NASDAQ:EPZM) dropped 1.4% on Monday after BidaskClub downgraded the stock from a sell rating to a strong sell rating. The stock traded as low as $7.61 and last traded at $7.78. Approximately 18,805 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 700,150 shares. The stock had previously closed at $7.89.

Several other research analysts have also commented on the company. Roth Capital set a $18.00 price objective on Epizyme and gave the stock a “buy” rating in a report on Monday, October 22nd. Zacks Investment Research downgraded Epizyme from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Morgan Stanley reduced their target price on Epizyme from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday. SunTrust Banks boosted their target price on Epizyme to $25.00 and gave the company a “buy” rating in a research note on Tuesday, September 25th. Finally, Oppenheimer set a $27.00 target price on Epizyme and gave the company a “buy” rating in a research note on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Epizyme has a consensus rating of “Hold” and an average target price of $20.50.

In related news, Director David M. Mott bought 416,667 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were purchased at an average cost of $9.00 per share, with a total value of $3,750,003.00. Following the completion of the purchase, the director now owns 12,088 shares in the company, valued at approximately $108,792. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BB&T Securities LLC grew its stake in shares of Epizyme by 45.5% in the second quarter. BB&T Securities LLC now owns 16,000 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 5,000 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Epizyme by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 225,764 shares of the biopharmaceutical company’s stock worth $3,058,000 after buying an additional 6,012 shares during the period. Swiss National Bank grew its position 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 worth $1,225,000 after purchasing an additional 6,700 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Epizyme by 8.5% during the second quarter. Alps Advisors Inc. now owns 100,842 shares of the biopharmaceutical company’s stock worth $1,366,000 after purchasing an additional 7,918 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Epizyme by 29.9% during the first quarter. Wells Fargo & Company MN now owns 35,074 shares of the biopharmaceutical company’s stock worth $622,000 after purchasing an additional 8,072 shares in the last quarter. 74.09% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market capitalization of $624.29 million, a PE ratio of -3.50 and a beta of 1.89.

Epizyme (NASDAQ:EPZM) last released its earnings results on Friday, November 2nd. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.07. Research analysts anticipate that Epizyme Inc will post -2.11 earnings per share for the current year.

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Epizyme Company Profile (NASDAQ:EPZM)

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.

Further Reading: Cost of Capital

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