Thu Sep 12 18:35:59 UTC 2024: ## Stifel Sees Potential in Under-the-Radar Inozyme Pharma (INZY)
**New York, NY -** Stifel Financial Corp. has initiated coverage on Inozyme Pharma Inc. (INZY) with a “Buy” rating and a price target of $16, highlighting the company’s potential in the rare disease space.
Inozyme’s lead candidate, INZ-701, is a novel enzyme replacement therapy targeting multiple diseases caused by deficiencies in pyrophosphate (PPi) and adenosine.
Currently in clinical development for ENPP1 Deficiency, ABCC6 Deficiency, and calciphylaxis, INZ-701 has received Fast Track designation from the FDA for ABCC6 Deficiency. This rare disease is characterized by mineral build-up in the body due to low PPi levels, impacting the eyes, skin, and vascular system.
“Although lead indications are rare, INZ-701 has pipeline-in-a-product potential,” noted the Stifel analyst. “Based on early PK/PD data, INZ-701 has a clearer development path in ENPP1 deficiency with ABCC6 deficiency development right behind.”
The analyst acknowledges the inherent challenges of clinical trial and regulatory risks common to the rare disease space but expects interim data from ongoing Phase 1 studies to instill investor confidence by year-end 2024.
Following the initiation of coverage, INZY stock surged 8.06% to $5.63 on Thursday.
**Disclaimer:** This news article is based on information provided by Benzinga and does not constitute investment advice.
First Piper 