Epizyme, Inc. ( EPZM ) was a big mover last session, as its shares rose almost 10% on the day. The upside was driven by the announcement that the company's investigational new drug (IND) application for tazemetosta has been accepted by the FDA. This also led to far more shares changing hands than in a normal session. Yesterday's rally reverses the recent downtrend for the company, as the stock is now down nearly 19% in the last one-month time frame.
Over the last 30 days, the company witnessed a mixed track record of one positive and one negative estimate revision while the Zacks Consensus Estimate remained unchanged. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Epizyme currently has a Zacks Rank #2 (Buy).
Another favorably-ranked biomedical stock is Gilead Sciences Inc. ( GILD ) with a Zacks Rank #1 (Strong Buy).
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