PRIMECAP Management Co. recently announced the acquisition of new stake in Epizyme Inc. (NASDAQ:EPZM). The institutional investor has increased its shareholding in the Healthcare company by 10.99% to 15.06 million shares with purchase of 1.49 million shares. This fresh investment now brings its stake to 14.84% valued currently at $208.37 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.2 million to 6.99 million shares. And BlackRock Fund Advisors has lifted its position by 12.05% or 0.68 million shares – to 6.35 million shares.
With over 1.05 million Epizyme Inc. (EPZM) shares trading Tuesday and a closing price of $12.79 on the day, the dollar volume was approximately $13.44 million. The shares have shown a negative weekly performance of -0.31% and its price on 09/01/20 lost nearly -1.62%. Currently, there are 101.10M common shares owned by the public and among those 82.79M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for EPZM have a consensus price objective of $28.38. The analysts have set the share’s price value over the next 12 months at a high of $36.00 and a low of $16.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Epizyme Inc. stock is 1.70 for the next 12 months. But an upside of 64.47% will see the stock hit the forecast high price target while mean target price for the stock is $29.50.
Insiders at the company have transacted a total of 63 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 3,131,167 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 227,402 shares.
The top 3 mutual fund holders in Epizyme Inc. are PRIMECAP Odyssey Aggressive Growt, PRIMECAP Odyssey Growth Fund, and SPDR S&P Biotech ETF. PRIMECAP Odyssey Aggressive Growt owns 9.58 million shares of the company’s stock, all valued at over $132.58 million. The company bought an additional 1.35 million shares recently to bring their total holdings to about 9.44% of the shares outstanding. PRIMECAP Odyssey Growth Fund bought 0.13 million shares to see its total holdings expand to 4.68 million shares valued at over $64.79 million and representing 4.63% of the shares outstanding. SPDR S&P Biotech ETF sold 22701.0 shares to bring its total holdings to over 2.26 million shares at a value of $31.34 million. SPDR S&P Biotech ETF now owns shares totaling to 2.24% of the shares outstanding.
Shares of Epizyme Inc. (NASDAQ: EPZM) opened at $12.86, down -$0.14 from a prior closing price of $13.00. However, the script later closed the day at $12.79, down -1.62%. The company’s stock has a 5-day price change of -0.31% and -26.62% over the past three months. EPZM shares are trading -48.01% year to date (YTD), with the 12-month market performance up to 1.99% higher. It has a 12-month low price of $9.73 and touched a high of $27.82 over the same period. Currently, 1.05 million shares have been traded, compared to an average intraday trading volume of 1.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.18%, -10.16%, and -29.07% respectively.
Institutional ownership of Epizyme Inc. (NASDAQ: EPZM) shares accounts for 96.90% of the company’s 101.10M shares outstanding. Mutual fund holders own 44.86%, while other institutional holders and individual stakeholders account for 44.92% and 28.89% respectively.
It has a market capitalization of $1.26B and a beta (3y monthly) value of 1.88. The earnings-per-share (ttm) stands at -$2.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.06% over the week and 5.12% over the month.
Analysts forecast that Epizyme Inc. (EPZM) will achieve an EPS of -$0.59 for the current quarter, -$0.65 for the next quarter and -$2.12 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.63 while analysts give the company a high EPS estimate of -$0.53. Comparatively, EPS for the current quarter was -$0.4 a year ago. Earnings per share for the fiscal year are expected to decrease by -12.00%, and 10.20% over the next financial year. EPS should grow at an annualized rate of 38.00% over the next five years, compared to -3.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Epizyme Inc. (EPZM) as a “Strong Buy” at a consensus score of 1.70. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 1 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the EPZM, a number of firms have released research notes about the stock. Oppenheimer stated their Perform rating for the stock in a research note on April 01, 2020, with the firm’s price target at. Barclays coverage for the Epizyme Inc. (EPZM) stock in a research note released on March 04, 2020 offered a Overweight rating with a price target of $33. H.C. Wainwright was of a view on February 25, 2020 that the stock is Buy, while SVB Leerink gave the stock Mkt Perform rating on January 24, 2020, issuing a price target of. Morgan Stanley on their part issued Overweight rating on December 06, 2019.