Monday Morning Pre-Market Insights: Advanced Micro Devices, Inc. (AMD), ZIOPHARM Oncology Inc. (ZIOP), Epizyme Inc (EPZM), Bioline RX Ltd (BLRX)
Advanced Micro Devices, Inc. (NASDAQ:AMD) increased 3.88% in pre-market trading to $2.68 following speculation that the company will split itself into two separate companies in order to remain competitive in the semiconductor sector. The company has not confirmed these speculations. According to the analysts polled by TipRanks, 3 recommend Buying AMD; 7 recommend Hold; and 2 recommend Sell.
ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) shares fell nearly -4.5% in pre-market trading to $11.60 after BMO Capital analyst Jim Birchenough downgraded the stock from Outperform to Market Perform and lowered his price target from $15 to $10. The analyst downgraded the stock after “an updated review of recent progress and relative positioning of CAR-T and TCR-based therapies.” According to TipRanks, all three analysts with open positions on ZIOP have Hold ratings on the stock. The average 12-month price target is $10, marking a -17% potential downside from where the stock is currently trading.
Epizyme Inc (NASDAQ:EPZM) shares soared nearly 16% in pre-market trading to $24.05 following news of positive data from the ongoing Phase 1 study of tazemetostat. The pipeline drug targets non-Hogkin lymphomas, or NHL, and solid tumors. The study recorded objective responses in 9 of the 15 relapsed NHL patients. The Phase 2 study for tazemetostat in NHL is now enrolling patients. Following the new data, Peter Lawson of Mizuho Securities reiterated a Buy rating on the stock with a $29 price target. According to TipRanks, the top analyst consensus for Epizyme is Strong Buy.
Bioline RX Ltd (NASDAQ:BLRX) shares increased 8.21% in pre-market trading to $42.50 after an analyst from J.P. Morgan initiated coverage on the stock with a $5 price target and a Market Outperform rating. Last week, BiolineRx presented positive data from its Phase 1 BL-8040 study. The pipeline therapy is a drug for acute myeloid leukemia, or AML. Last month BiolineRx confirmed that increased doses of the drug were safe and well-tolerated in the 22 patients participating in the study. According to TipRanks, the top analyst consensus for BiolineRx is Strong Buy.