Epizyme price target raised to $52 from $37 at Wedbush Wedbush increased its price target on Epizyme after the company released clinical data on its EPZ-5676 treatment that the firm views as positive. The firm reiterates an Outperform rating on the stock.
Epizyme reports Q4 EPS (44c), consensus (53c) Reports Q4 revenue $10.3M, consensus $10.08M. CFO Andrew Singer said, “Epizyme has made significant strides in advancing as an independent oncology company. We began 2014 with $123.6M in cash and cash equivalents and ended the year with $190.1M in cash and cash equivalents, which reflects the proceeds from our public offering in 2014 and collaborator non-equity funding. As we move forward, we will continue to evaluate our operating plan to ensure that we are carefully monitoring our spend and providing for appropriate capital to be devoted to the aggressive development of EPZ-6438.”