Inozyme Pharma (NASDAQ:INZY) Receives Outperform Rating from Wedbush

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a report issued on Tuesday, RTT News reports. They currently have a $15.00 target price on the stock. Wedbush’s price target would suggest a potential upside of 218.47% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company began coverage on shares of Inozyme Pharma in a report on Thursday, May 30th. They issued an “overweight” rating and a $14.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a report on Tuesday. Bank of America decreased 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Inozyme Pharma in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $16.00.

Inozyme Pharma Price Performance

Inozyme Pharma stock traded up $0.01 during mid-day trading on Tuesday, reaching $4.71. The company had a trading volume of 215,778 shares, compared to its average volume of 486,733. Inozyme Pharma has a 1 year low of $2.69 and a 1 year high of $7.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.05 and a quick ratio of 14.05. The company has a market capitalization of $291.34 million, a P/E ratio of -3.44 and a beta of 1.52. The stock’s 50-day simple moving average is $4.91 and its 200-day simple moving average is $5.25.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). On average, equities analysts predict that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Trading of Inozyme Pharma

A number of institutional investors have recently made changes to their positions in INZY. Values First Advisors Inc. acquired a new stake in Inozyme Pharma during the second quarter valued at approximately $76,000. SG Americas Securities LLC lifted its stake in 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 during the last quarter. Rhumbline Advisers lifted its stake in Inozyme Pharma by 22.0% during the second quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock valued at $343,000 after purchasing an additional 13,867 shares during the last quarter. Superstring Capital Management LP acquired a new stake in Inozyme Pharma during the fourth quarter valued at approximately $528,000. Finally, Bank of New York Mellon Corp lifted its stake in Inozyme Pharma by 16.1% during the second quarter. Bank of New York Mellon Corp now owns 190,896 shares of the company’s stock valued at $851,000 after purchasing an additional 26,464 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

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.