Inozyme Pharma (NASDAQ:INZY) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Inozyme Pharma (NASDAQ:INZY) in a research report sent to investors on Thursday, MarketBeat reports. The firm issued a buy rating and a $16.00 price objective on the stock.

INZY has been the topic of several other reports. Needham & Company LLC reissued a buy rating and issued a $23.00 price target on shares of Inozyme Pharma in a report on Tuesday, August 6th. Jefferies Financial Group reissued a buy rating and issued a $17.00 price target (up from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. Wells Fargo & Company assumed 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. Wedbush reaffirmed an outperform rating and set a $15.00 target price on shares of Inozyme Pharma in a report on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a buy rating and set a $14.00 target price on shares of Inozyme Pharma in a report on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $16.14.

Inozyme Pharma Stock Up 7.9 %

Shares of NASDAQ:INZY opened at $5.62 on Thursday. Inozyme Pharma has a 52-week low of $2.69 and a 52-week high of $7.80. The company has a 50-day simple moving average of $5.14 and a 200 day simple moving average of $5.19. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Tuesday, August 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07). Research analysts forecast that Inozyme Pharma will post -1.67 earnings per share for the current fiscal year.

Institutional Trading of Inozyme Pharma

Large investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C acquired a new stake in shares of Inozyme Pharma during the 2nd quarter worth approximately $52,000. Meeder Asset Management Inc. acquired a new stake in shares of Inozyme Pharma during the 2nd quarter worth approximately $68,000. Values First Advisors Inc. acquired a new stake in shares of Inozyme Pharma during the 2nd quarter worth approximately $76,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Inozyme Pharma during the 2nd quarter worth approximately $84,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Inozyme Pharma by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after acquiring an additional 2,690 shares in the last quarter. Institutional investors and hedge funds 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.