Inozyme Pharma Inc. (INZY) PT Lowered to $24 at Raymond James

Raymond James analyst Ryan Deschner lowered the price target on Inozyme Pharma Inc. (NASDAQ: INZY) to $24.00 (from $26.00) while maintaining a Outperform rating.

The analyst comments "We remain Outperform rated on INZY following interim data from the ENERGY 1 study (and expanded access program) in infant ENPP1 (GACI) patients that suggest 1) INZ-701 treatment is likely driving improvements in functional and disease progression metrics, and 2) the survival co-primary endpoint could reasonably be achieved in the pivotal infant study (ENERGY 2) we expect in 2025. Despite these very encouraging factors, the other co-primary endpoint for ENPP1/ABCC6 infant studies, pyrophosphate (PPi), appeared to be encumbered by elevated levels of ADAs. These ADA titers were much higher than in the adult studies, however they did not fully negate the activity of ’701, and could potentially be minimized via higher dosing and/or use of immune-modifying therapies. The impact of ADAs on pediatric patients in ENERGY 3, where PPi is the primary endpoint (co-primary in EU), will now be a key focus going into the early 2026 readout. We are lowering our price target by $2 to $24 based on added uncertainty associated with elevated ADA levels and their potential impact on pediatric study populations."

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