Oppenheimer Sticks to Its Buy Rating for Epizyme

Oppenheimer analyst Leah R. Cann maintained a Buy rating on Epizyme (NASDAQ: EPZM) today and set a price target of $25. The company’s shares opened today at $18.85.

R. Cann wrote:

“Epizyme’s Q4:17 loss per share of $0.52 was less than our estimated $0.57. This primarily resulted from lower than estimated operating expense of $37.4 million vs. our estimated $39.6 million. Epizyme provided an encouraging and detailed update on clinical programs and potential timing of NDAs and data. We are adjusting our expectations for the potential launch of tazemetostat in several settings between 2018 and 2022. As a result, our estimated product revenues for Q4:18 are being pushed out to 2019, and assumed revenue is being reduced for 2020 and 2021 and is unchanged for 2022. We are adjusting our target price to $25 from a prior $26 to account for slighter more shares outstanding.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 20.4% and a 56.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

Epizyme has an analyst consensus of Strong Buy, with a price target consensus of $23.50.

Based on Epizyme’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $37.6 million. In comparison, last year the company earned revenue of $478K and had a GAAP net loss of $35.02 million.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is neutral on the stock.

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Epizyme, Inc. operates as a clinical stage biopharmaceutical company. It discovers, develops and plans to commercialize novel epigenetic therapies for patients with cancer and other diseases. The company engages in the creation of small molecule inhibitors of class of enzymes known as histone methyltransferases.

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