Inozyme Pharma (INZY – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Stringer from Needham maintained a Buy rating on the stock and has a $15.00 price target.
Joseph Stringer’s rating is based on a combination of factors including the promising potential of Inozyme Pharma’s lead asset, INZ-701, which is currently in Phase 3 development. The enzyme replacement therapy is targeted at treating ENPP1 Deficiency, a condition with significant unmet medical need, suggesting a substantial market opportunity.
Additionally, the ongoing clinical trials and the anticipated success of the Phase 3 readout contribute to a positive outlook for the stock. These elements collectively support the Buy rating, indicating confidence in the company’s future growth and potential market impact.
Stringer covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Rhythm Pharmaceuticals, and Lexicon Pharmaceuticals. According to TipRanks, Stringer has an average return of -6.5% and a 33.41% success rate on recommended stocks.