Inozyme Pharma, Inc. (NASDAQ:INZY) Receives $17.00 Consensus Price Target from Brokerages

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have been given a consensus rating of “Buy” by the nine brokerages that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $18.33.

A number of research firms have weighed in on INZY. Piper Sandler reduced their price target on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday. Raymond James assumed coverage on Inozyme Pharma in a research note on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective on the stock. Wells Fargo & Company dropped their price objective on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday. HC Wainwright upped their price objective on Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th.

Institutional Investors Weigh In On Inozyme Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Inozyme Pharma by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock worth $151,000 after buying an additional 6,851 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Inozyme Pharma during the third quarter worth $64,000. Barclays PLC lifted its holdings in shares of 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 buying an additional 55,497 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 19,499 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of 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 buying an additional 3,443 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Inozyme Pharma Price Performance

Shares of INZY opened at $1.36 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 stock has a 50 day simple moving average of $2.80 and a 200 day simple moving average of $4.30. Inozyme Pharma has a 52-week low of $1.32 and a 52-week high of $7.80.

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

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.