Analyst Tazeen Ahmad of Bank of America Securities reiterated a Buy rating on Inozyme Pharma (INZY – Research Report), with a price target of $16.00.
Tazeen Ahmad has given his Buy rating due to a combination of factors surrounding Inozyme Pharma’s promising pipeline and the anticipation of key data readouts. The company’s phase 1/2 trial results for INZ-701 in treating ENPP1 and ABCC6 deficiencies are expected soon, which could provide significant clinical validation for the drug’s efficacy in addressing these rare conditions. Furthermore, the planned initiation of further trials, including ENERGY-2 and a phase 3 trial for ABCC6 deficiency, are indicative of the drug’s progress through the clinical pipeline. The potential market exclusivity for INZ-701, as it targets conditions with no current approved therapies, also contributes to the positive outlook on the stock.
Additionally, the company’s financial health, as reflected in their recently reported R&D and G&A expenses, and the management of their cash flow and share count, appears to be managed effectively. This financial stability, combined with the upcoming interim data from the SEAPORT-1 phase 1 trial in end-stage kidney disease patients and the expected topline data from pivotal trial ENERGY-3 for pediatric ENPP1 deficiency, supports a positive valuation outlook. Ahmad’s updated DCF-based model takes these factors into account, leading to the affirmation of the Buy rating with a price objective that suggests significant upside potential from the current market price.
According to TipRanks, Ahmad is a 3-star analyst with an average return of 2.4% and a 48.55% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Ocular Therapeutix, and Ascendis Pharma.
In another report released yesterday, H.C. Wainwright also assigned a Buy rating to the stock with a $16.00 price target.
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Inozyme Pharma (INZY) Company Description:
Inozyme Pharma Inc is a rare disease biopharmaceutical company developing novel therapeutics for the treatment of diseases of abnormal mineralization impacting the vasculature, soft tissue and skeleton. The company is focused on developing a novel therapy to treat the rare genetic diseases of ENPP1 and ABCC6 deficiencies. Its product candidate, INZ-701, is a soluble, recombinant, or genetically engineered, fusion protein that is designed to correct a defect in the mineralization pathway caused by ENPP1 and ABCC6 deficiencies.
Read More on INZY:
- Inozyme Pharma Reports Full Year 2023 Financial Results and Provides Business Highlights
- Inozyme expects cash to fund requirements into 4Q25
- Inozyme reports 2023 EPS ($1.37), consensus ($1.34)
- Inozyme Pharma to Participate in the TD Cowen 44th Annual Health Care Conference
- Inozyme Pharma Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
