After Oppenheimer and Cowen & Co. gave Epizyme (NASDAQ: EPZM) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Andrew Fein reiterated a Buy rating on Epizyme today and set a price target of $25. The company’s shares closed yesterday at $9.90, close to its 52-week low of $8.61.
Fein said:
“Valuation and risks. We have modified our model to reflect recent updates from EPZM’s pipeline. We have reduced the PoS for DLBCL program from 65% to 30% and delayed its timeline to launch from 2019 to 2020. We have increased the PoS for FL EZH2 mutant indication from 65% to 90%. Our price target of $25 for EPZM remains unchanged, and is based on a probability-adjusted sum-of-parts NPV-DCF: $3.1 (Taz, DLBCL, EZH2mut) + $16.2 (Taz, FL, EZH2mut) + $1.3 (Taz, INI- solid tumor) + $0.9 (DOT1L inhibitor) + $3.1 (cash).”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 4.7% and a 47.2% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Epizyme with a $26.25 average price target, representing a 165.2% upside. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.
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Based on Epizyme’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $12 million and GAAP net loss of $29.13 million. In comparison, last year the company earned revenue of $10 million and had a GAAP net loss of $28.02 million.
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Develops therapeutics for the treatment of patients with genetically defined cancers
