Inozyme Pharma Buy Rating Affirmed on Strong Trial Results and Robust Pipeline Prospects

Inozyme Pharma (INZY – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Edward White from H.C. Wainwright reiterated a Buy rating on the stock and has a $14.00 price target.

Edward White has given his Buy rating due to a combination of factors related to Inozyme Pharma’s progress and prospects. Inozyme recently reported financial results that, despite a slight miss on earnings per share for the first quarter of 2024, demonstrated a solid cash position expected to last into the fourth quarter of 2025. Importantly, the positive topline data from the Phase 1/2 trial of INZ-701, an enzyme replacement therapy for ENPP1 Deficiency, has strengthened the case for its potential. This drug has received multiple designations from regulatory agencies that could expedite its development and review processes.
In addition to these factors, the favorable results from the trial, including a good safety profile, pharmacokinetics, and pharmacodynamics, are underpinning White’s confidence in the stock. The drug showed rapid and sustained improvements in disease biomarkers across all doses tested. Moreover, the anticipation of topline data from the pivotal ENERGY-3 pediatric trial by mid-2025 and the upcoming start of the ENERGY-2 trial in infants are significant milestones that could further validate INZ-701’s efficacy and safety. White foresees these developments as potentially leading to the first approved therapy for ENPP1 Deficiency, with projected sales commencing in 2027, thus justifying the Buy rating for Inozyme Pharma.

White covers the Healthcare sector, focusing on stocks such as Nyxoah, Syndax Pharmaceuticals, and Valneva. According to TipRanks, White has an average return of -10.7% and a 32.73% success rate on recommended stocks.

In another report released today, Needham also reiterated a Buy rating on the stock with a $23.00 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.