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May 7, 2021, 8:44 a.m. EDT

SVB Leerink upgrades Epizyme, citing sales potential for lymphoma drug

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By Jaimy Lee

Shares of Epizyme Inc. /zigman2/quotes/200475462/composite EPZM +0.22% were up 11.0% in premarket trading on Friday after SVB Leerink upgraded the company's stock to outperform, from market perform, citing Tazverik's potential opportunity in the follicular lymphoma market. Analyst Andrew Berens told investors that the drug's potential as a "maintenance" therapy could represent a "significant upside to current valuation." (Maintenance treatments can be used to prevent relapses of some cancers.) Berens said he had previously estimated the drug could generate $252 million in sales in 2030; now he sees the potential for $854 million in sales, including sales from both treatment and maintenance prescriptions. The Food and Drug Administration approved Tazerik as a therapy for relapsed or refractory follicular lymphoma in June of last year. Epizyme's stock is down 37.3% for the year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.04% is up 11.8%.

US : U.S.: Nasdaq
$ 8.97
+0.02 +0.22%
Volume: 130,125
June 23, 2021 11:40a
P/E Ratio
Dividend Yield
Market Cap
$912.68 million
Rev. per Employee
+1.53 +0.04%
Volume: 613.71M
June 23, 2021 11:41a

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