Inozyme upgraded to Buy from Hold at Jefferies

Jefferies analyst Suji Jeong upgraded Inozyme Pharma to Buy from Hold with a price target of $6, up from $4.50. The early look at the Phase 1/2 biomarker data at day 50 in pseudoxanthoma elasticum patients shows normalization of anti-mineralization factor and provides proof of mechanism, the analyst tells investors in a research note. The firm continues to view INZ-701 in pseudoxanthoma elasticum as the key value driver of the stock given the "sizable market opportunity" and upgrades Inozyme on valuation.