In a report released today, Jotin Marango from Roth Capital reiterated a Buy rating on Epizyme (NASDAQ: EPZM), with a price target of $26. The company’s shares closed on Friday at $10.25, close to its 52-week low of $8.61.
Marango said:
“We expect Epizyme shares to react positively to: (a) the reversal of the clinical hold announced today, which should allow the value-driving study in FL to complete enrollment; and (b) the update from the registration-scale study in ES at ESMO, which should make real the prospect of an NDA and accelerated approval within 2019. We reiterate our Buy rating and $26 PT. 1. We believe that the lifting of the partial clinical hold on taz opens the way for discussions with the FDA on registration paths. As a reminder, Epizyme announced its submission to the FDA to address the clinical hold on September 5. In our view, this means that the hold was lifted in much less than the typical 30-day window, which we believe suggests favorable regard from the FDA on the risk/benefit taz.”
According to TipRanks.com, Marango is a 4-star analyst with an average return of 15.0% and a 44.4% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Stemline Therapeutics Inc, and Cyclacel Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Epizyme with a $22.40 average price target, implying an 118.5% upside from current levels. In a report issued on September 21, Citigroup also maintained a Buy rating on the stock.
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The company has a one-year high of $21.40 and a one-year low of $8.61. Currently, Epizyme has an average volume of 427.2K.
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Develops therapeutics for the treatment of patients with genetically defined cancers
