Inozyme Pharma (NASDAQ:INZY) Stock Rating Reaffirmed by Wedbush

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research report issued on Monday, Benzinga reports. They currently have a $15.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 198.80% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Tuesday, August 6th. 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 target price for the company. Jefferies Financial Group reissued a “buy” rating and set a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Inozyme Pharma in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Inozyme Pharma presently has a consensus rating of “Buy” and a consensus target price of $16.14.

Inozyme Pharma Stock Performance

INZY stock opened at $5.02 on Monday. Inozyme Pharma has a 1-year low of $2.69 and a 1-year high of $7.80. The business has a 50-day moving average price of $5.25 and a 200 day moving average price of $5.12. The company has a market capitalization of $310.52 million, a P/E ratio of -3.66 and a beta of 1.52. 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 (NASDAQ:INZY) last announced 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). As a group, equities research analysts forecast that Inozyme Pharma will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Inozyme Pharma

A number of institutional investors have recently modified their holdings of INZY. Millennium Management LLC lifted its holdings in Inozyme Pharma by 154.1% in the second quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock valued at $7,974,000 after acquiring an additional 1,084,341 shares during the period. Affinity Asset Advisors LLC boosted its holdings in Inozyme Pharma by 40.1% during the first quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock worth $20,242,000 after buying an additional 756,717 shares in the last quarter. Samlyn Capital LLC grew its position in Inozyme Pharma by 15.0% during the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after buying an additional 437,622 shares during the period. Dimensional Fund Advisors LP grew its position in Inozyme Pharma by 117.6% during the second quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock valued at $1,695,000 after buying an additional 205,417 shares during the period. Finally, Kennedy Capital Management LLC raised its position in shares of Inozyme Pharma by 52.2% in the first quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock worth $3,352,000 after acquiring an additional 150,120 shares during the period. Hedge funds and other institutional investors 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.