Epizyme (EPZM) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Epizyme (NASDAQ:EPZM) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “Epizyme reported loss narrower than expected in the third quarter of 2017. However, the company’s efforts on developing its lead candidate, tazemetostat, for a number of hematological malignancies and genetically defined solid tumors are impressive. Although the company is progressing well with tazemetostat, it is still years away from hitting the market, subject to positive results and subsequent approval by the FDA. Apart from this, the company has very few mid- and early-stage candidates. Unfavorable outcome from any of the development programs could adversely the company’s prospects as well as the stock. However, the company seems to be on track to hold the first interaction with the FDA in the fourth quarter for discussing tazemetostat's non-Hodgkin lymphoma (NHL) program. Additionally, we are optimistic on Epizyme’sattempts to evaluate tazemetostat in combination with anti-PD 1 or PDL-1 agent.”

Several other analysts have also recently weighed in on EPZM. BidaskClub raised shares of Epizyme from a strong sell rating to a sell rating in a report on Friday, December 29th. Oppenheimer reaffirmed a buy rating and issued a $26.00 target price on shares of Epizyme in a report on Tuesday, September 19th. Jefferies Group assumed coverage on shares of Epizyme in a report on Wednesday, September 20th. They issued a buy rating and a $23.00 target price on the stock. Cann reaffirmed a buy rating and issued a $26.00 target price on shares of Epizyme in a report on Tuesday, September 19th. Finally, Leerink Swann reaffirmed an outperform rating and issued a $22.00 target price (down previously from $28.00) on shares of Epizyme in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $22.67.

Shares of Epizyme (NASDAQ EPZM) traded up $0.25 during trading hours on Wednesday, reaching $13.20. 413,700 shares of the company traded hands, compared to its average volume of 371,600. The firm has a market capitalization of $957.83, a PE ratio of -5.81 and a beta of 2.00. Epizyme has a 52-week low of $9.30 and a 52-week high of $20.45.

Epizyme (NASDAQ:EPZM) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.02. sell-side analysts predict that Epizyme will post -2.23 EPS for the current fiscal year.

In other Epizyme news, insider Peter Tai-Ching Ho sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $16.44, for a total transaction of $246,600.00. Following the sale, the insider now owns 23,123 shares of the company’s stock, valued at $380,142.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.20% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. acquired a new stake in Epizyme during the third quarter worth approximately $223,000. BB&T Securities LLC acquired a new position in shares of Epizyme in the 2nd quarter valued at $181,000. SG Americas Securities LLC increased its holdings in shares of Epizyme by 83.3% in the 2nd quarter. SG Americas Securities LLC now owns 13,364 shares of the biopharmaceutical company’s stock valued at $202,000 after acquiring an additional 6,072 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Epizyme in the 2nd quarter valued at $215,000. Finally, JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Epizyme in the 3rd quarter valued at $292,000. 85.28% of the stock is currently owned by institutional investors.

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Epizyme Company Profile

Epizyme, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and plans to commercialize epigenetic therapies for cancer patients. The Company is engaged in the discovery and development of novel epigenetic therapies for cancer patients. The Company develops small molecule inhibitors of a class of enzymes known as histone methyltransferases (HMTs).

Analyst Recommendations for Epizyme (NASDAQ:EPZM)

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