Inozyme initiated with a Buy at Stifel

Stifel analyst Dae Gon Ha initiated coverage of Inozyme with a Buy rating and $16 price target. Inozyme is evaluating INZ-701 in rare diseases like ENPP1 and ABCC6 deficiencies and although lead indications are rare, the firm believes INZ-701 has “a pipeline-in-a-product potential,” the analyst tells investors. Based on early data, INZ-701 has “a clearer development path in ENPP1 deficiency with ABCC6 deficiency development right behind,” the analyst added. By year-end 2024, interim data from both the Phase 1b ENERGY-1 trial in ENPP1 deficiency for infants and the Phase 1 SEAPORT-1 trial in calciphylaxis have “a chance to instill investor confidence prior to additional catalysts in 2025,” the firm contends.