Inozyme Pharma, Inc. (NASDAQ:INZY) Receives Average Rating of “Buy” from Analysts

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have been given an average rating of “Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $16.14.

Several brokerages recently issued reports on INZY. Stifel Nicolaus initiated coverage on Inozyme Pharma in a research note on Thursday. They set a “buy” rating and a $16.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Wedbush restated an “outperform” rating and set a $15.00 target price on shares of Inozyme Pharma in a research report on Tuesday, August 6th. Wells Fargo & Company began coverage on shares of Inozyme Pharma in a research note on Thursday, May 30th. They set an “overweight” rating and a $14.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research note on Tuesday, August 6th.

Institutional Trading of Inozyme Pharma

A number of large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Inozyme Pharma by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after acquiring an additional 2,690 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Inozyme Pharma by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after purchasing an additional 5,673 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Inozyme Pharma in the 2nd quarter worth approximately $52,000. Rhumbline Advisers increased its position in shares of Inozyme Pharma by 22.0% during the 2nd 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. Finally, Renaissance Technologies LLC raised its holdings in Inozyme Pharma by 8.1% during the 2nd quarter. Renaissance Technologies LLC now owns 187,839 shares of the company’s stock valued at $838,000 after buying an additional 14,139 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Inozyme Pharma Stock Up 6.8 %

Shares of INZY stock opened at $6.00 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.84 and a quick ratio of 9.84. Inozyme Pharma has a one year low of $2.69 and a one year high of $7.80. The company’s fifty day moving average price is $5.16 and its 200-day moving average price is $5.19. The company has a market capitalization of $371.14 million, a price-to-earnings ratio of -4.38 and a beta of 1.52.

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

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.