HC Wainwright Increases Inozyme Pharma (NASDAQ:INZY) Price Target to $16.00

Inozyme Pharma (NASDAQ:INZY) had its price target hoisted by HC Wainwright from $14.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on INZY. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Wedbush reiterated an “outperform” rating and set a $12.00 price objective (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday, November 5th. Stifel Nicolaus assumed coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Raymond James began coverage on shares of Inozyme Pharma in a research note on Thursday, December 12th. They set an “outperform” rating and a $26.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $17.25.

Inozyme Pharma Price Performance

Inozyme Pharma stock opened at $2.00 on Friday. The firm has a market capitalization of $128.48 million, a PE ratio of -1.28 and a beta of 1.35. Inozyme Pharma has a 52 week low of $1.97 and a 52 week high of $7.80. The firm’s 50-day simple moving average is $3.07 and its 200 day simple moving average is $4.40. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.05. On average, equities research analysts predict that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

Hedge funds have recently modified their holdings of the stock. Eventide Asset Management LLC raised its stake in Inozyme Pharma by 5.0% during the third quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock worth $21,623,000 after purchasing an additional 198,216 shares during the period. Samlyn Capital LLC raised its position in shares of Inozyme Pharma by 15.0% in the 2nd quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock worth $14,943,000 after buying an additional 437,622 shares during the period. State Street Corp boosted its holdings in Inozyme Pharma by 5.0% in the third quarter. State Street Corp now owns 1,050,420 shares of the company’s stock valued at $5,494,000 after acquiring an additional 50,386 shares during the last quarter. Geode Capital Management LLC grew its position 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 valued at $6,126,000 after acquiring an additional 19,499 shares during the period. Finally, Barclays PLC increased its stake 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 acquiring an additional 55,497 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

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.