Inozyme Pharma (NASDAQ:INZY) Given “Outperform” Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note issued to investors on Friday morning,RTT News reports. They currently have a $12.00 target price on the stock.

Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus began coverage on shares of Inozyme Pharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $16.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Raymond James began coverage on shares of Inozyme Pharma in a research note on Thursday, December 12th. They issued an “outperform” rating and a $26.00 price objective for the company. Finally, HC Wainwright upped their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $17.25.

Inozyme Pharma Stock Performance

Shares of INZY stock opened at $2.00 on Friday. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $3.07 and a 200 day moving average price of $4.40. The company has a market cap of $128.48 million, a P/E ratio of -1.28 and a beta of 1.35. Inozyme Pharma has a 12 month low of $1.97 and a 12 month high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Sell-side analysts predict that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Inozyme Pharma by 31.0% in the third quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after buying an additional 6,851 shares during the last quarter. Virtu Financial LLC purchased a new position in Inozyme Pharma during the third quarter worth about $64,000. Barclays PLC raised its holdings in Inozyme Pharma by 261.4% during the third quarter. Barclays PLC now owns 76,730 shares of the company’s stock worth $401,000 after purchasing an additional 55,497 shares in the last quarter. Geode Capital Management LLC raised its holdings in Inozyme Pharma by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock worth $6,126,000 after purchasing an additional 19,499 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Inozyme Pharma by 7.5% during the third quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after purchasing an additional 3,443 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.