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Investing.com - BTIG initiated coverage on Maze Therapeutics (NASDAQ:MAZE) with a Buy rating and a $30.00 price target on Tuesday. The company, currently valued at $635 million and trading at $14.49, has received strong analyst support with a consensus "Strong Buy" rating and price targets ranging from $17 to $34.
The research firm views Maze as an emerging leader in APOL1-mediated kidney disease (AMKD), with its MZE829 drug candidate showing "persuasive best-in-disease potential" in a market with no approved treatment options. According to InvestingPro data, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 13.6x, providing runway for its drug development programs.
The target addressable market includes more than 250,000 patients in the U.S., approximately twice the size of IgA nephropathy (IgAN), according to BTIG. Phase 2 data from the HORIZON trial is expected in the first quarter of 2026.
BTIG also noted upcoming Phase 1 proof of mechanism data for MZE782, Maze’s SLC6A19 inhibitor, expected before the end of September 2025. Significant increases in urinary phenylalanine could open opportunities in phenylketonuria and chronic kidney disease markets.
The firm highlighted Maze’s partnership with Shionogi (TYO:4507) for S-606001, where Maze remains eligible for up to $605 million in additional milestones and up to twenty percent tiered royalties on net sales.
In other recent news, Maze Therapeutics has appointed Misbah Tahir as its new chief financial officer and principal financial officer. Tahir brings extensive experience to the role, having previously served as CFO at IGM Biosciences and held finance leadership positions at Dermira, Onyx Pharmaceuticals, and Human Genome Sciences. In addition, H.C. Wainwright has initiated coverage on Maze Therapeutics with a Buy rating, setting a price target of $34.00. The firm highlighted the potential of Maze’s kidney disease treatment, specifically MZE782, which is a first-in-class SLC6A19 small molecule inhibitor for chronic kidney disease. Phase 1 proof-of-concept data for this treatment is anticipated in the third quarter of 2025. These developments reflect significant strategic moves by Maze Therapeutics as it continues to advance its pipeline.
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