Recommendation: Speculative Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Potential Upside |
|---|---|---|---|---|---|---|---|
| 26 Mar, 24 | INZY | Speculative Buy | USD 6.23 | USD 6.66 | USD 7.37 | 1 day | 18.3% |
Data Powered by EOD Historical Data (“EODHD”).
Inozyme Pharma, Inc., a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis. It has a license agreement with Yale University for specified therapeutic and prophylactic products. The company was incorporated in 2015 and is headquartered in Boston, Massachusetts.
Higher Current Ratio: 14.05x in Q1FY24 vs. 10.66x in Q1FY23
Higher Interest Income: USD 2.38 million in Q1FY24 vs. USD 1.32 million in Q1FY23
Higher Debt-Equity Ratio: 0.38x in Q1FY24 vs. 0.23x in Q1FY23
Higher Net Loss: USD (23.35) million in Q1FY24 vs. USD (17.4) million in Q1FY23
Market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 6.23 | 5.85 | 6.66 | 7.37 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
Financials: Research and Development (R&D) expenses grew by 61% to USD 19.11 mn in Q1FY24 as compared to USD 11.86 mn in Q1FY23.
Technical: 14 day Relative Strength Index (RSI) is above the midpoint, supporting a positive sentiment and possible continuation of upward movement.
Outlook: The company plans to begin a pivotal study in pediatric patients with ABCC6 deficiency in Q1FY25, with regulatory approval and sufficient funding.
Given the aforementioned factors, a "Speculative Buy" recommendations has been assigned on the stock at the closing market price of USD 6.23 as on 25 March 2024.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Healthcare Industry: Biotechnology
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to EBITDA (x) | |
|---|---|---|---|---|---|---|---|---|
| INZY Inozyme Pharma Inc |
-0.1 3.34% | 2.89 | - | - | - | 2.26 | -2.6194 | |
| NVO Novo Nordisk A/S |
3.35 3.94% | 88.35 | 41.58 | 31.15 | 2.13 | 32.99 | 2.11 | 4.70 |
| NONOF Novo Nordisk A/S |
-1.68 1.57% | 105.12 | 41.06 | 31.25 | 2.08 | 33.11 | 2.11 | 4.70 |
| VRTX Vertex Pharmaceuticals Inc |
-4.84 1.22% | 392.43 | 29.67 | 24.33 | 10.38 | 5.83 | 9.33 | 20.00 |
| REGN Regeneron Pharmaceuticals Inc |
7.45 1.06% | 709.30 | 29.07 | 20.12 | 7.57 | 3.82 | 6.95 | 19.42 |
Data Powered by EOD Historical Data (“EODHD”).
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and target levels is March 25, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: The report publishing date is as per the Pacific Time Zone.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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