Jefferies Financial Group Brokers Lift Earnings Estimates for Epizyme, Inc. (NASDAQ:EPZM)
Epizyme, Inc. (NASDAQ:EPZM) – Equities research analysts at Jefferies Financial Group boosted their Q4 2020 earnings estimates for shares of Epizyme in a research note issued on Sunday, December 20th. Jefferies Financial Group analyst M. Yee now forecasts that the biopharmaceutical company will post earnings per share of ($0.76) for the quarter, up from their prior forecast of ($0.79). Jefferies Financial Group has a “Hold” rating and a $14.00 price objective on the stock. Jefferies Financial Group also issued estimates for Epizyme’s Q1 2021 earnings at ($0.75) EPS, Q3 2021 earnings at ($0.79) EPS, Q4 2021 earnings at ($0.72) EPS, FY2021 earnings at ($3.03) EPS, FY2022 earnings at ($2.62) EPS and FY2023 earnings at ($1.91) EPS.
Epizyme (NASDAQ:EPZM) last released its quarterly earnings results on Friday, November 6th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.05. The business had revenue of $3.60 million during the quarter, compared to the consensus estimate of $5.89 million. Epizyme had a negative return on equity of 83.45% and a negative net margin of 1,899.35%. The company’s quarterly revenue was down 36.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.54) EPS.
Several other equities analysts have also recently weighed in on the company. BidaskClub upgraded Epizyme from a “sell” rating to a “hold” rating in a research note on Saturday, October 17th. Morgan Stanley dropped their price target on shares of Epizyme from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, November 9th. Finally, Barclays cut their price target on shares of Epizyme from $33.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, November 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $25.44.
Shares of NASDAQ:EPZM opened at $11.81 on Wednesday. The business’s 50 day moving average is $12.15 and its 200 day moving average is $13.58. Epizyme has a 12-month low of $9.90 and a 12-month high of $27.82. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -5.30 and a beta of 1.82. The company has a quick ratio of 8.71, a current ratio of 8.95 and a debt-to-equity ratio of 0.33.
Several hedge funds and other institutional investors have recently bought and sold shares of EPZM. Morgan Stanley increased its position in shares of Epizyme by 111.1% during the third quarter. Morgan Stanley now owns 1,449,327 shares of the biopharmaceutical company’s stock valued at $17,291,000 after buying an additional 762,758 shares during the period. State Street Corp lifted its holdings in shares of Epizyme by 16.2% during the 3rd quarter. State Street Corp now owns 4,442,413 shares of the biopharmaceutical company’s stock worth $52,998,000 after acquiring an additional 620,698 shares during the last quarter. MPM Oncology Impact Management LP raised its position in Epizyme by 22.4% during the third quarter. MPM Oncology Impact Management LP now owns 2,854,737 shares of the biopharmaceutical company’s stock valued at $34,057,000 after purchasing an additional 523,203 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Epizyme by 20.4% during the third quarter. Victory Capital Management Inc. now owns 2,765,292 shares of the biopharmaceutical company’s stock worth $32,990,000 after purchasing an additional 469,182 shares during the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Epizyme in the 3rd quarter worth about $5,451,000. 89.43% of the stock is currently owned by institutional investors.
In related news, insider Shefali Agarwal sold 2,522 shares of the business’s stock in a transaction dated Thursday, December 3rd. The stock was sold at an average price of $13.54, for a total value of $34,147.88. Following the sale, the insider now directly owns 76,089 shares in the company, valued at approximately $1,030,245.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl Goldfischer acquired 5,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The shares were acquired at an average cost of $12.07 per share, for a total transaction of $60,350.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $60,350. The disclosure for this purchase can be found here. 16.30% of the stock is currently owned by corporate insiders.
About Epizyme
Epizyme, Inc, a late-stage biopharmaceutical company, discovers, develops, and commercializes novel epigenetic medicines for patients with cancer and other diseases. The company offers Tazemetostat for the treatment of metastatic or locally advanced epithelioid sarcoma epithelioid sarcoma in the United States.
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