Inozyme Pharma’s (INZY) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note published on Thursday morning, RTT News reports. The firm currently has a $15.00 target price on the stock.

Several other research analysts have also recently weighed in on INZY. Bank of America lowered their price target on shares of Inozyme Pharma from $16.00 to $14.00 and set a buy rating on the stock in a report on Tuesday, April 9th. Needham & Company LLC reissued a buy rating and set a $23.00 price target on shares of Inozyme Pharma in a report on Wednesday, May 8th. HC Wainwright restated a buy rating and issued a $14.00 price target on shares of Inozyme Pharma in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company started coverage on Inozyme Pharma in a research report on Thursday, May 30th. They set an overweight rating and a $14.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and an average price target of $16.00.

Inozyme Pharma Stock Up 1.6 %

INZY stock opened at $5.79 on Thursday. Inozyme Pharma has a 1-year low of $2.69 and a 1-year high of $7.80. The business’s 50 day simple moving average is $4.80 and its 200 day simple moving average is $5.18. The company has a current ratio of 14.05, a quick ratio of 14.05 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $358.17 million, a PE ratio of -4.23 and a beta of 1.53.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). As a group, research analysts anticipate that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Values First Advisors Inc. bought a new stake in Inozyme Pharma during the 4th quarter worth approximately $59,000. SG Americas Securities LLC lifted its position in shares of Inozyme Pharma by 46.9% during the fourth quarter. SG Americas Securities LLC now owns 21,236 shares of the company’s stock valued at $90,000 after purchasing an additional 6,784 shares in the last quarter. Superstring Capital Management LP purchased a new position in Inozyme Pharma in the fourth quarter worth $528,000. Bank of New York Mellon Corp boosted its stake in Inozyme Pharma by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 190,896 shares of the company’s stock valued at $851,000 after acquiring an additional 26,464 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its stake in shares of Inozyme Pharma by 52.2% during the 1st quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock worth $3,352,000 after acquiring an additional 150,120 shares during the period. Institutional investors own 88.30% of the company’s stock.

About Inozyme Pharma

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.