Inozyme Pharma’s (INZY) “Outperform” Rating Reiterated at Wedbush

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a report issued on Tuesday, RTT News reports. They currently have a $12.00 target price on the stock, down from their previous target price of $15.00. Wedbush’s price objective would suggest a potential upside of 194.84% from the stock’s current price.

INZY has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a report on Friday, October 25th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Inozyme Pharma in a report on Friday, October 25th. Stifel Nicolaus began coverage on Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Inozyme Pharma currently has an average rating of “Buy” and an average target price of $15.71.

Inozyme Pharma Stock Performance

NASDAQ INZY traded down $0.35 during trading hours on Tuesday, hitting $4.07. The company had a trading volume of 417,795 shares, compared to its average volume of 417,193. The company has a quick ratio of 9.84, a current ratio of 9.84 and a debt-to-equity ratio of 0.48. The firm has a market cap of $255.31 million, a P/E ratio of -2.79 and a beta of 1.54. Inozyme Pharma has a fifty-two week low of $2.71 and a fifty-two week high of $7.80. The business has a fifty day simple moving average of $5.21 and a 200-day simple moving average of $4.94.

Inozyme Pharma (NASDAQ:INZY) last posted its earnings results on Tuesday, August 6th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.07). Equities analysts predict that Inozyme Pharma will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Inozyme Pharma

Hedge funds have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C purchased a new stake in Inozyme Pharma in the 2nd quarter worth about $52,000. Meeder Asset Management Inc. acquired a new stake in shares of Inozyme Pharma during the second quarter worth approximately $68,000. SG Americas Securities LLC purchased a new position in Inozyme Pharma during the third quarter valued at approximately $81,000. Values First Advisors Inc. acquired a new position in Inozyme Pharma in the 2nd quarter valued at approximately $76,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Inozyme Pharma in the 2nd quarter worth approximately $84,000. Hedge funds and other 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.