Oppenheimer Thinks Epizyme’s Stock is Going to Recover


Oppenheimer analyst Leah R. Cann maintained a Buy rating on Epizyme (NASDAQ: EPZM) yesterday and set a price target of $27. The company’s shares closed yesterday at $8.28, close to its 52-week low of $7.96.

Cann commented:

“The data released today at the FDA filing strategy, supports our expectation that Epizyme could launch Tazemetostat in 2019 in epithelioid sarcoma (ES). In addition, the data are compelling in this setting, where there is no standard- of-care or beneficial therapy, which could result in very rapid adoption once launched. These rare solid tumor settings could be under-diagnosed and -documented, which could result in larger markets than estimated, once a viable treatment is available.”

According to TipRanks.com, Cann is a 4-star analyst with an average return of 8.5% and a 46.1% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

Epizyme has an analyst consensus of Strong Buy, with a price target consensus of $21.25, implying a 156.6% upside from current levels. In a report released yesterday, Roth Capital also maintained a Buy rating on the stock with a $18 price target.

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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 had a GAAP net loss of $37.6 million.

Based on the recent corporate insider activity of 8 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.

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

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