H.C. Wainwright analyst Andrew Fein assigned a Buy rating to Epizyme (NASDAQ: EPZM) today and set a price target of $25. The company’s shares closed on Friday at $17.
Fein noted:
“We believe EPZM’s trial is no exception. As far as we know, BAP1 loss is more frequently associated with peritoneal MM while pleural MM is the most prevalent (~80%), and is also more frequently associated with MM of epitheliod origin (~88% of patients in this study). Thus, it is almost impossible to extrapolate the potential survival benefit from this specific patient group without a properly controlled, well matched placebo arm. We believe such a trial at most serves to provide depth with respect to the human PK/PD for tazemetostat, proof of concept for clinical activity and potentially to point to patient subpopulations with enriched efficacy signals.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 7.4% and a 52.1% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Currently, the analyst consensus on Epizyme is Strong Buy and the average price target is $24.13, representing a 41.9% upside.
In a report issued on May 8, Oppenheimer also assigned a Buy rating to the stock with a $25 price target.
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Based on Epizyme’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $34.07 million. In comparison, last year the company had a GAAP net loss of $32.52 million.
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Develops therapeutics for the treatment of patients with genetically defined cancers
