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 opened today at $12.60.
Cann commented:
“Epizyme’s Q2 loss per share of $0.42 was less than our estimated loss of $0.60. This primarily resulted from an unanticipated milestone payment of $10 million and lower than estimated operating expense of $42.3 million vs. our estimated $46.8 million. Importantly, the NDA for tazemetostat is now expected in H1 2019 rather than our prior expectation of year-end 2018. This results from Epizyme wanting to submit more mature data in the epithelioid sarcoma setting and wanting to have the clinical hold for tazemetostat resolved before filing with FDA.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 24.5% and a 55.5% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Currently, the analyst consensus on Epizyme is a Strong Buy with an average price target of $26.25.
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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 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
