UPDATE: RBC Capital Starts Epizyme (EPZM) at Outperform

RBC Capital initiated coverage on Epizyme (NASDAQ: EPZM) with an Outperform rating and a price target of $40. Analyst Simos Simeonidis noted Tazemetostat showed unexpected efficacy in additional NHL patient subpopulations.

"Originally hypothesized to demonstrate clinical utility only in nonHodgkin's lymphoma (NHL) patients with mutated-EZH2 tumors and of the GCB subtype, tazemetostat has also shown promising clinical benefit in patients with WT EZH2 tumors and of the non-GCB subtype. If replicated in a larger clinical trial setting, these results can significantly expand the addressable NHL patient population who can benefit from the drug. Given the promising results in the initial dataset, we believe tazemetostat has a good probability of doing so, in addition to validating the original hypothesis of targeting EZH2-mutated patients. We currently model initial sales in 2019 and $2B of peak sales in 2032, based off higher penetrations in mutant EZH2 patients than in WT/non-GCB patients," said Simeonidis.

For an analyst ratings summary and ratings history on Epizyme click here. For more ratings news on Epizyme click here.

Shares of Epizyme closed at $22.71 yesterday.

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