Epizyme (EPZM) Trading Down 1.4% Following Analyst Downgrade

Epizyme Inc (NASDAQ:EPZM) was down 1.4% during trading 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 trading, a decline of 97% from the average daily volume of 700,150 shares. The stock had previously closed at $7.89.

EPZM has been the topic of a number of other reports. Roth Capital set a $18.00 target price on shares of Epizyme and gave the company a “buy” rating in a report on Monday, October 22nd. Zacks Investment Research cut shares of Epizyme from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Morgan Stanley dropped their target price on shares of Epizyme from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Monday. SunTrust Banks upped their target price on shares of Epizyme to $25.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. Finally, Oppenheimer set a $27.00 target price on shares of Epizyme and gave the company a “buy” rating in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Epizyme has an average rating of “Hold” and an average target price of $20.50.

In other news, Director David M. Mott bought 416,667 shares of the company’s stock in a transaction dated Friday, October 5th. The shares were bought 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 $108,792. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. 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 during the period. 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 during the period. 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 during the period. 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 during the period. 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 during the period. 74.09% of the stock is currently owned by institutional investors.

The firm has a market cap of $624.29 million, a price-to-earnings ratio of -3.50 and a beta of 1.89.

Epizyme (NASDAQ:EPZM) last released its quarterly earnings results on Friday, November 2nd. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.07. On average, research analysts expect that Epizyme Inc will post -2.11 EPS for the current fiscal 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.

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