In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Epizyme (NASDAQ: EPZM), with a price target of $27. The company’s shares closed on Friday at $10.25, close to its 52-week low of $8.61.
Cann wrote:
“This annoncement of the partial clinical hold being lifted by FDA supports our outlook for tazemetostat. Tazemetostat is currently being studied in clinical programs in INI-1 negative tumors, synovial sarcomas, follicular lymphoma, diffuse large B-cell lymphoma (DLBCL), and mesothelioma. While the partial clinical hold may have delayed enrollment in some studies, these are not currently factored into our outlook; therefore, the hold had little impact on our outlook. The news removes a regulatory overhang and supports our outlook for Epizyme.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 21.3% and a 54.7% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
Currently, the analyst consensus on Epizyme is a Strong Buy with an average price target of $22.40, an 118.5% upside from current levels. In a report issued on September 21, Citigroup also maintained a Buy rating on the stock.
.
See today’s analyst top recommended stocks >>
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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Develops therapeutics for the treatment of patients with genetically defined cancers
