Jefferies downgraded Inozyme (INZY) to Hold from Buy with a price target of $4, down from $15, after BioMarin Pharmaceutical (BMRN) agreed to acquire the company for $4.00 per share in cash. The firm believes INZ-701 fits into BioMarin’s enzyme treatment portfolio as a bolt-on, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INZY:
- Leerink bullish on BioMarin following Inozyme deal, expects additional BD
- Inozyme downgraded to Market Perform from Outperform at Raymond James
- Inozyme downgraded to Hold from Buy at Needham
- Inozyme downgraded to Equal Weight from Overweight at Wells Fargo
- Inozyme Pharma’s INZ-701 Shows Promising Results in ENERGY-3 Study, Highlighting Investment Potential