Inozyme Pharma (NASDAQ:INZY) Receives “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $17.00 price objective on the stock, up from their previous price objective of $16.00.

Several other research firms also recently weighed in on INZY. HC Wainwright reiterated a buy rating and issued a $14.00 price target on shares of Inozyme Pharma in a research report on Thursday, August 8th. Wells Fargo & Company initiated coverage on shares of Inozyme Pharma in a research 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 research report on Tuesday, August 6th. Finally, Wedbush reiterated an outperform rating and issued a $15.00 price target on shares of Inozyme Pharma in a research report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inozyme Pharma currently has an average rating of Buy and a consensus target price of $16.17.

Inozyme Pharma Stock Up 0.4 %

Shares of NASDAQ:INZY traded up $0.02 during trading on Tuesday, reaching $4.71. 41,757 shares of the stock traded hands, compared to its average volume of 473,925. The stock has a 50-day moving average of $4.88 and a two-hundred day moving average of $5.24. 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 stock has a market cap of $291.34 million, a P/E ratio of -3.42 and a beta of 1.52.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). As a group, sell-side analysts expect that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Institutional Trading of Inozyme Pharma

Institutional investors and hedge funds have recently modified their holdings of the company. Deerfield Management Company L.P. Series C bought a new stake in shares of Inozyme Pharma during the 2nd quarter valued at $52,000. Meeder Asset Management Inc. purchased a new position in Inozyme Pharma during the second quarter valued at $68,000. Values First Advisors Inc. purchased a new position in Inozyme Pharma during the second quarter valued at $76,000. Cubist Systematic Strategies LLC purchased a new position in Inozyme Pharma during the second quarter valued at $84,000. Finally, SG Americas Securities LLC grew 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 acquiring an additional 6,784 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors.

Inozyme Pharma Company Profile

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.