Oppenheimer analyst Leland Gershell reiterated a Buy rating on Epizyme (EPZM) today and set a price target of $27. The company’s shares opened today at $7.94.
Gershell observed:
“Beyond providing increased visibility on tazemetostat’s path to approval in follicular lymphoma following recent FDA interactions, EPZM’s plan to file without limitation to EZH2 mutation status is a solid positive, as investors have been skeptical around the ability to secure approval outside of this subgroup (only ~20-25% of all FL). EPZM plans to submit in 4Q19, following the 2Q19 initial filing for epithelioid sarcoma. Company also outlined plans for novel combinations and indications with tazemetostat. Cash runway is now expected until end-2Q20 following operational streamlining. We expect shares to outperform as tazemetostat progresses through development and approaches commercialization.”
According to TipRanks.com, Gershell has currently no stars on a ranking scale of 0-5 stars, with an average return of -15.5% and a 35.7% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and AzurRx BioPharma Inc.
Currently, the analyst consensus on Epizyme is a Strong Buy with an average price target of $20.25.
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Based on Epizyme’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $37.49 million. In comparison, last year the company had a GAAP net loss of $36.17 million.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EPZM in relation to earlier this year.
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Develops therapeutics for the treatment of patients with genetically defined cancers
