Inozyme initiated with an Overweight at Wells Fargo

Wells Fargo analyst Tiago Fauth initiated coverage of Inozyme with an Overweight rating and $14 price target. The company’s Iead program in ENPP1 deficiency addresses a market with high unmet need and low bar for approval, the analyst tells investors in a research note. At the stock’s current valuation, success of any asset should be a meaningful upside driver, contends Wells. The firm says stories like Inozyme get often overlooked since the total addressable market is seen to be too small.