Epizyme Inc (NASDAQ:EPZM) – Oppenheimer decreased their Q3 2019 earnings estimates for shares of Epizyme in a research report issued to clients and investors on Sunday, August 11th. Oppenheimer analyst L. Gershell now expects that the biopharmaceutical company will earn ($0.54) per share for the quarter, down from their prior forecast of ($0.43). Oppenheimer also issued estimates for Epizyme’s Q4 2019 earnings at ($0.82) EPS, FY2019 earnings at ($2.31) EPS, FY2020 earnings at ($1.96) EPS, FY2021 earnings at $0.23 EPS, FY2022 earnings at $1.70 EPS and FY2023 earnings at $2.96 EPS.
Epizyme (NASDAQ:EPZM) last posted its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). The business had revenue of $5.90 million during the quarter, compared to the consensus estimate of $0.32 million. Epizyme’s quarterly revenue was down 50.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.42) earnings per share.
A number of other equities research analysts have also issued reports on EPZM. Citigroup reaffirmed a “buy” rating on shares of Epizyme in a research report on Thursday, May 30th. Zacks Investment Research lowered Epizyme from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Wednesday. HC Wainwright set a $25.00 price target on Epizyme and gave the company a “buy” rating in a research report on Monday, June 24th. Wedbush reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Epizyme in a research report on Wednesday, June 12th. Finally, BidaskClub lowered Epizyme from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Epizyme currently has a consensus rating of “Buy” and a consensus price target of $18.11.
EPZM stock opened at $12.83 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 12.55 and a quick ratio of 12.55. The firm has a market capitalization of $1.08 billion, a P/E ratio of -7.46 and a beta of 2.48. The business’s 50-day moving average is $12.86 and its two-hundred day moving average is $12.67. Epizyme has a 1 year low of $5.14 and a 1 year high of $16.59.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EPZM. Victory Capital Management Inc. purchased a new position in shares of Epizyme in the 1st quarter valued at about $20,289,000. Vanguard Group Inc. increased its holdings in shares of Epizyme by 29.9% in the 2nd quarter. Vanguard Group Inc. now owns 7,078,470 shares of the biopharmaceutical company’s stock valued at $88,835,000 after acquiring an additional 1,630,171 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Epizyme by 31.8% in the 2nd quarter. BlackRock Inc. now owns 6,440,597 shares of the biopharmaceutical company’s stock valued at $80,831,000 after acquiring an additional 1,552,216 shares during the last quarter. Norges Bank purchased a new position in shares of Epizyme in the 4th quarter valued at about $6,965,000. Finally, Redmile Group LLC increased its holdings in shares of Epizyme by 15.9% in the 1st quarter. Redmile Group LLC now owns 7,694,020 shares of the biopharmaceutical company’s stock valued at $95,329,000 after acquiring an additional 1,056,742 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.
In other news, CEO Robert B. Bazemore sold 2,074 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $12.10, for a total value of $25,095.40. Following the transaction, the chief executive officer now owns 87,068 shares in the company, valued at approximately $1,053,522.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David M. Mott sold 104,944 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $13.08, for a total value of $1,372,667.52. Following the completion of the transaction, the director now owns 13,979 shares in the company, valued at approximately $182,845.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,203 shares of company stock worth $1,412,101. Company insiders own 16.60% of the company’s stock.
Epizyme Company Profile
Epizyme, Inc, a late-stage biopharmaceutical company, discovers, develops, and commercializes novel epigenetic medicines for patients with cancer and other diseases primarily in the United States. The company's lead products candidate is tazemetostat, an inhibitor of the EZH2 histone methyltransferase, which is in the Phase II clinical trial for patients with relapsed or refractory non-hodgkin lymphoma (NHL); Phase II clinical trial for relapsed or refractory patients with mesothelioma characterized by BAP1 loss-of-function; and Phase II clinical trial for adults and Phase I clinical trial for children with epithelioid sarcoma and other INI1-negative solid tumors.
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