UPDATE: Jefferies Downgrades Epizyme (EPZM) to Hold
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Jefferies analyst Michael J. Yee downgraded Epizyme (NASDAQ: EPZM) from Buy to Hold with a price target of $14.00 (from $18.00).
The analyst comments "We move to Hold and believe the launch for Tazverik will grow but we are below consensus for 2021. Launch is progressing but there remain (1) logistical challenges of a launch during the pandemic, (2) headwinds from ASH COVID-19 guidelines specifically for indolent lymphomas (watch/wait protocol), and (3) investor uncertainties from competition (new biologics and feedback even on off label oral Ibrutinib) will need time to resolve."
Shares of Epizyme closed at $12.74 yesterday.
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