Epizyme (EPZM) Stock Price Down 5.7%

Epizyme Inc (NASDAQ:EPZM) dropped 5.7% on Monday . The stock traded as low as $11.43 and last traded at $11.43. Approximately 387,377 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 848,872 shares. The stock had previously closed at $12.12.

EPZM has been the subject of several recent analyst reports. Zacks Investment Research downgraded Epizyme from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Cowen reaffirmed a “buy” rating and set a $18.00 target price on shares of Epizyme in a report on Tuesday, February 26th. BidaskClub raised Epizyme from a “hold” rating to a “buy” rating in a report on Tuesday, February 5th. ValuEngine downgraded Epizyme from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Epizyme in a report on Wednesday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $18.90.

The company has a quick ratio of 12.55, a current ratio of 12.55 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.10 billion, a P/E ratio of -6.65 and a beta of 3.08.

Epizyme (NASDAQ:EPZM) last released its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.39) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.07. The firm had revenue of $7.89 million for the quarter, compared to analyst estimates of $1.13 million. As a group, research analysts predict that Epizyme Inc will post -1.98 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. JGP Global Gestao de Recursos Ltda. lifted its holdings in Epizyme by 10.4% in the first quarter. JGP Global Gestao de Recursos Ltda. now owns 13,691 shares of the biopharmaceutical company’s stock valued at $170,000 after acquiring an additional 1,293 shares during the period. Legal & General Group Plc lifted its holdings in Epizyme by 16.9% in the fourth quarter. Legal & General Group Plc now owns 10,060 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 1,455 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Epizyme by 5.7% in the first quarter. The Manufacturers Life Insurance Company now owns 40,022 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 2,152 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in Epizyme by 18.3% in the first quarter. Metropolitan Life Insurance Co NY now owns 19,570 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 3,029 shares during the period. Finally, American International Group Inc. lifted its holdings in Epizyme by 13.0% in the fourth quarter. American International Group Inc. now owns 39,223 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 4,513 shares during the period. 74.44% of the stock is owned by hedge funds and other institutional investors.

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About Epizyme (NASDAQ:EPZM)

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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