Inozyme Pharma (NASDAQ:INZY) Posts Earnings Results, Misses Expectations By $0.07 EPS

Inozyme Pharma (NASDAQ:INZY) released its quarterly earnings data on Tuesday. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07), Zacks reports.

Inozyme Pharma Stock Performance

Shares of NASDAQ INZY traded down $0.37 during trading hours on Wednesday, reaching $4.34. 153,643 shares of the stock were exchanged, compared to its average volume of 484,528. The stock’s fifty day simple moving average is $4.92 and its 200 day simple moving average is $5.25. Inozyme Pharma has a 52 week low of $2.69 and a 52 week high of $7.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 14.05 and a current ratio of 14.05. The firm has a market capitalization of $268.46 million, a price-to-earnings ratio of -3.23 and a beta of 1.52.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on INZY shares. Bank of America cut their price objective on Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Wells Fargo & Company started coverage on Inozyme Pharma in a research report on Thursday, May 30th. They issued an “overweight” rating and a $14.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Tuesday. Wedbush reiterated an “outperform” rating and set a $15.00 target price on shares of Inozyme Pharma in a research note on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $16.00.

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.