Oppenheimer Thinks Epizyme’s Stock is Going to Recover

By Austin Angelo

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 $8.30, close to its 52-week low of $7.74.

Cann wrote:

“Epizyme’s loss per share of $0.54 was lower than our estimated loss of $0.83. This primarily resulted from lower than estimated R&D expenses in the quarter. Our 2018-2022 estimated revenues are unchanged. We are reducing our estimated operating expenses for 2018 by 18.8%, and operating expenses are basically unchanged for 2019–2022. The net effect is that our estimated loss per share is being decreased by 20.6% in 2018, modestly adjusted in 2019, and our loss per share and EPS estimates are unchanged for 2020-2022.”

According to TipRanks.com, Cann is a 3-star analyst with an average return of 3.7% and a 39.5% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

Currently, the analyst consensus on Epizyme is a Strong Buy with an average price target of $21.25, representing a 156.0% upside. In a report issued on October 22, 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 6 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.

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Develops therapeutics for the treatment of patients with genetically defined cancers