Wedbush Reaffirms “Outperform” Rating for Inozyme Pharma (NASDAQ:INZY)

Wedbush reiterated their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note issued to investors on Tuesday, RTT News reports. Wedbush currently has a $15.00 target price on the stock.

A number of other brokerages have also weighed in on INZY. HC Wainwright reaffirmed a buy rating and set a $14.00 price objective on shares of Inozyme Pharma in a report on Tuesday. Wells Fargo & Company began coverage on Inozyme Pharma in a research note on Thursday, May 30th. They set an overweight rating and a $14.00 price target for the company. Needham & Company LLC reiterated a buy rating and set a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, May 8th. Finally, Bank of America cut their price target on Inozyme Pharma from $16.00 to $14.00 and set a buy rating for the company in a report on Tuesday, April 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $16.00.

Inozyme Pharma Price Performance

INZY stock opened at $4.49 on Tuesday. The stock has a market cap of $277.75 million, a price-to-earnings ratio of -3.28 and a beta of 1.53. Inozyme Pharma has a fifty-two week low of $2.69 and a fifty-two week high of $7.80. The company has a quick ratio of 14.05, a current ratio of 14.05 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $4.60 and a 200 day moving average price of $5.08.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). Equities research analysts anticipate that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INZY. SG Americas Securities LLC boosted its holdings in Inozyme Pharma by 46.9% in the fourth quarter. SG Americas Securities LLC now owns 21,236 shares of the company’s stock valued at $90,000 after purchasing an additional 6,784 shares during the last quarter. Values First Advisors Inc. acquired a new position in Inozyme Pharma in the fourth quarter worth about $59,000. Vanguard Group Inc. increased its holdings in Inozyme Pharma by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,419,020 shares of the company’s stock valued at $18,530,000 after buying an additional 33,998 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in Inozyme Pharma by 1.8% in the fourth quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock worth $13,546,000 after purchasing an additional 54,837 shares during the period. Finally, Superstring Capital Management LP acquired a new stake in shares of Inozyme Pharma during the fourth quarter worth $528,000. 88.30% of the stock is owned by institutional investors and hedge funds.

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.