Maze Therapeutics rises after Citi initiates with 'buy'
MAZE•Citi starts coverage with buy rating and $50 target
Shares of biotech firm Maze Therapeutics MAZE.O rose 1.5% to $28.8 premarket after brokerage Citi initiated coverage with "buy" and a $50 price target, a 76% premium to MAZE's last close.
Citi said MAZE's kidney drug candidate MZE829 has the "best-in-class" potential, with key trial data due in six months to become a key catalyst for the stock.
It also said the company's experimental drug candidate MZE782 for phenylketonuria, a rare inherited metabolic disorder, is a promising treatment option with significant market potential.
All 12 brokerages rate MAZE "buy" or higher; the median price target is $55.50, according to LSEG-compiled data. As of the last close, the stock was down 32% year to date.
