Jefferies Starts Coverage on Epizyme, Inc. (EPZM) With An Initial Rating Of “Buy”

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Epizyme, Inc. (NASDAQ:EPZM).

On September 20, 2017 Jefferies began coverage by announcing an initial rating of “Buy”.

The company is unchanged by 0.00% percent from yesterday’s close. Shares of the company are trading at $19.25 quite a bit higher than the 50 day moving average which is $15.50 and which is significantly above the 200 day moving average of $15.25. The 50 day moving average moved up $3.75 and the 200 day average went up by +26.26%.

Epizyme, Inc., launched on November 1, 2007, is a clinical-stage biopharmaceutical company. The Company discovers, develops and plans to commercialize epigenetic therapies for cancer patients. The Company is involved in the discovery and development of novel epigenetic therapies for cancer patients. The Company develops small molecule inhibitors of a class of enzymes known as histone methyltransferases (HMTs). The Company develops small molecule inhibitors of other chromatin modifying proteins (CMPs)..

In the latest earnings report the EPS was $-2.07 and is projected to be $-2.39 for the current year with 58,466,000 shares now outstanding. Next quarter’s EPS is forecasted to be $-0.68 and the next full year EPS is anticipated to be $-2.45.

Short traders are more bearish on Epizyme, Inc. if you evaluate the rise in short interest. The stock had a rise in short interest from August 15, 2017 to August 31, 2017 of 2.33%. Short interest increased from 6,493,690 to 6,644,673 over that timeframe. With short interest at 6,644,673 and short average daily volume at 483,100, days to cover is 14.0 and the percentage of shorted shares was 0.11% on August 31.