BUZZ - Citi initiates Maze Therapeutics with a "Buy" rating, shares surge

September 23 - ** The share price of biotechnology company Maze Therapeutics (MAZE.O) rose 1.5% in pre-market trading to $28.8

** Citi initiated coverage of the stock with a “Buy” rating and set a target price of $50, representing a 76% premium to MAZE’s previous closing price

** Citi stated that MAZE’s kidney drug candidate, MZE829, has “best-in-class” potential, and key trial data is expected to be announced within six months, which will be a crucial catalyst for the share price

** The report also noted that the company’s experimental candidate drug for phenylketonuria— a rare inherited metabolic disorder— MZE782, is a highly promising treatment option with huge market potential

** All 12 brokerages covering MAZE have given it a “Buy” or higher rating; the median target price is $55.50— according to LSEG compiled data

** As of the previous session’s close, the stock was down 32% year-to-date

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