After Cowen & Co. and RBC Capital assigned a Buy rating to Epizyme in the last month, the company received another Buy, this time from Oppenheimer. Analyst Leah R. Cann reiterated a Buy rating on Epizyme (NASDAQ: EPZM) today and set a price target of $26. The company’s shares opened today at $15.
R. Cann commented:
“Epizyme announced positive data today for Tazemetostat, from the epithelioid sarcoma cohort of its ongoing phase II study in adult patients with molecularly defined solid tumors. The data released today along with the FDA filing strategy supports our expectation that Epizyme could launch Tazemetostat in 2018. In addition, the data are compelling in this setting where this is no standard-of-care or beneficial therapy, which could result in very rapid adoption once launched.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 10.4% and a 68.4% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Seattle Genetics, and Acceleron Pharma.
Currently, the analyst consensus on Epizyme is Strong Buy and the average price target is $23, representing a 53.3% upside.
In a report issued on May 8, Cowen & Co. also reiterated a Buy rating on the stock.
Based on Epizyme’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $0 and GAAP net loss of $32.52 million. In comparison, last year the company earned revenue of $472K and had a GAAP net loss of $22.88 million.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Robert Copeland, the President of Research and CSO of EPZM sold 5,000 shares for a total of $87,200.
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Epizyme, Inc. operates as a clinical stage biopharmaceutical company. The company discovers, develops and plans to commercialize therapeutics for patients with genetically defined cancers. It engages in the creation of small molecule inhibitors of class of enzymes known as histone methyltransferases. The company products include Tazemetostat, which is used for the treatment of multiple types of hematological malignancies and genetically defined solid tumors; and Pinometostat, which is used for treatment of patients with MLL-r, a genetically defined acute leukemia. Epizyme was founded by H. Robert Horvitz and Yi Zhang on November 1, 2007 and is headquartered in Cambridge, MA.