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 $12.60, close to its 52-week low of $11.15.
Cann observed:
“Our outlook for 2019–2022 is being adjusted to reflect a change in our expectations for Tazemetostat pricing and market penetration. We are now estimating potential pricing for Tazemetostat that is in line with that of drugs approved in 2017 for indications in hematologic settings. We have adjusted market penetration to account for settings for which we anticipate rapid adoption, including INI-1 negative tumors and newly diagnosed synovial sarcomas, and slower adoption in settings where there are several compounds currently in development, including follicular lymphoma and diffuse large B-cell lymphoma. As a result, our estimated 2022 revenue is being reduced by 23.7%.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 26.5% and a 61.3% 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 $24.71, representing a 96.1% upside. In a report issued on June 27, H.C. Wainwright also maintained a Buy rating on the stock with a $25 price target.
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The company has a one-year high of $21.40 and a one-year low of $11.15. Currently, Epizyme has an average volume of 449.4K.
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Develops therapeutics for the treatment of patients with genetically defined cancers
