Why Analyst Says Rare Disease-Focused Inozyme Pharma Stock 'Could Be Worth A Look'
Portfolio Pulse from Vandana Singh
Stifel has initiated coverage on Inozyme Pharma Inc. (NASDAQ:INZY) with a Buy rating and a $16 price target, highlighting its lead candidate INZ-701's potential in treating rare diseases. The FDA has granted fast track designation for INZ-701 for ABCC6 Deficiency, and the company plans a pivotal study by the end of 2024.
September 12, 2024 | 6:36 pm
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Stifel initiated coverage on Inozyme Pharma with a Buy rating and a $16 price target, citing the potential of its lead candidate INZ-701 in treating rare diseases. The FDA has granted fast track designation for INZ-701 for ABCC6 Deficiency, and the company plans a pivotal study by the end of 2024.
The initiation of coverage by Stifel with a Buy rating and a $16 price target is a positive signal for investors. The FDA's fast track designation for INZ-701 adds regulatory support, and the planned pivotal study indicates progress in clinical development. These factors are likely to boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100