Oppenheimer Keeps Their Buy Rating on Epizyme (EPZM)

In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Epizyme (EPZM), with a price target of $27. The company’s shares opened today at $7.42, close to its 52-week low of $6.90.

Cann commented:

“The interim data for Tazemetostat in diffuse large B-cell lymphoma had a data cut- off of 11 more months than the last analysis. The ORR for the combined mutant and wild type patients receiving monotherapy was lower than the last analysis and the same in both arms of the trial. The mDOR of 44.2 weeks (11.0 months), and mPFS, of 15.9 weeks, were impressive in the mutant cohort. Duration of response compares favorably to the reference data of 9.2 months, detailed on pp. 46-47 in our report 2018-2019 Edition. The data released today support Tazemetostat’s potential in follicular lymphoma and supports our expectations for launch.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 6.9% and a 46.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Epizyme with a $21 average price target.

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The company has a one-year high of $21.40 and a one-year low of $6.90. Currently, Epizyme has an average volume of 619.3K.

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