Epizyme (NASDAQ:EPZM) Shares Gap Down to $15.51

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Epizyme Inc (NASDAQ:EPZM) gapped down prior to trading on Monday . The stock had previously closed at $14.87, but opened at $15.51. Epizyme shares last traded at $16.46, with a volume of 42,367 shares trading hands.

Several research analysts recently commented on EPZM shares. Morgan Stanley increased their price objective on Epizyme from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, June 19th. Oppenheimer reaffirmed a “hold” rating and issued a $17.00 target price (up from $16.00) on shares of Epizyme in a research note on Tuesday, May 5th. ValuEngine raised Epizyme from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Barclays began coverage on Epizyme in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $33.00 target price for the company. Finally, SVB Leerink cut their target price on Epizyme from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Friday, June 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $27.22.

The company has a current ratio of 14.81, a quick ratio of 14.74 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average price of $17.87 and a two-hundred day moving average price of $19.65.

Epizyme (NASDAQ:EPZM) last released its quarterly earnings results on Monday, May 4th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.23. The business had revenue of $1.35 million during the quarter, compared to analysts’ expectations of $2.63 million. Epizyme had a negative return on equity of 67.19% and a negative net margin of 1,111.58%. As a group, research analysts predict that Epizyme Inc will post -2.37 earnings per share for the current year.

In other Epizyme news, Director David M. Mott purchased 62,019 shares of the stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of $16.03 per share, for a total transaction of $994,164.57. Following the acquisition, the director now owns 82,601 shares in the company, valued at approximately $1,324,094.03. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew Ros sold 112,003 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $21.24, for a total value of $2,378,943.72. Following the transaction, the insider now owns 92,861 shares of the company’s stock, valued at $1,972,367.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,898 shares of company stock valued at $2,930,298. Company insiders own 16.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Redmile Group LLC boosted its holdings in Epizyme by 0.3% during the 1st quarter. Redmile Group LLC now owns 8,768,475 shares of the biopharmaceutical company’s stock valued at $135,999,000 after acquiring an additional 22,442 shares during the period. FMR LLC boosted its holdings in Epizyme by 0.3% during the 1st quarter. FMR LLC now owns 3,484,137 shares of the biopharmaceutical company’s stock valued at $43,169,000 after acquiring an additional 11,759 shares during the period. Victory Capital Management Inc. boosted its holdings in Epizyme by 21.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,646,668 shares of the biopharmaceutical company’s stock valued at $65,108,000 after acquiring an additional 470,980 shares during the period. State Street Corp boosted its holdings in Epizyme by 1.3% during the 1st quarter. State Street Corp now owns 2,494,910 shares of the biopharmaceutical company’s stock valued at $38,696,000 after acquiring an additional 30,834 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Epizyme by 245.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,947,831 shares of the biopharmaceutical company’s stock valued at $30,211,000 after acquiring an additional 1,383,330 shares during the period. Institutional investors own 90.43% of the company’s stock.

About Epizyme (NASDAQ:EPZM)

Epizyme, Inc, a late-stage biopharmaceutical company, discovers, develops, and commercializes novel epigenetic medicines for patients with cancer and other diseases primarily in the United States. The company's lead products candidate is tazemetostat, an inhibitor of the EZH2 histone methyltransferase, which is in the 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 characterized by BAP1 loss-of-function; and Phase II clinical trial for adults and Phase I clinical trial for children with epithelioid sarcoma and other INI1-negative solid tumors.

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