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

Wedbush reaffirmed their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a report published on Monday, Benzinga reports. The firm currently has a $15.00 price target on the stock.

Other analysts also recently issued reports about the company. Jefferies Financial Group reiterated a buy rating and set a $17.00 target price (up from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. HC Wainwright reiterated a buy rating and issued a $14.00 price objective on shares of Inozyme Pharma in a report on Thursday, August 8th. Stifel Nicolaus started coverage on shares of Inozyme Pharma in a research note on Thursday, September 12th. They set a buy rating and a $16.00 target price on the stock. 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. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and an average target price of $16.14.

Inozyme Pharma Trading Up 0.2 %

Inozyme Pharma stock opened at $5.03 on Monday. Inozyme Pharma has a 12 month low of $2.69 and a 12 month high of $7.80. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $5.24 and its two-hundred day simple moving average is $5.12. The company has a market capitalization of $311.14 million, a price-to-earnings ratio of -3.67 and a beta of 1.51.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). As a group, equities analysts predict that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

A number of hedge funds have recently modified their holdings of INZY. Deerfield Management Company L.P. Series C bought a new position in Inozyme Pharma in the 2nd quarter worth $52,000. Meeder Asset Management Inc. bought a new position in shares of Inozyme Pharma in the second quarter worth about $68,000. Values First Advisors Inc. purchased a new position in shares of Inozyme Pharma during the 2nd quarter valued at about $76,000. Cubist Systematic Strategies LLC bought a new position in shares of Inozyme Pharma during the 2nd quarter valued at approximately $84,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Inozyme Pharma by 14.4% in 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 own 88.30% of the company’s stock.

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.