Inozyme Pharma (NASDAQ:INZY) Given “Buy” Rating at Needham & Company LLC

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $23.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 368.43% from the company’s previous close.

Several other research analysts have also issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 price objective (up from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and set a $15.00 target price on shares of Inozyme Pharma in a research report on Monday, September 30th. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Inozyme Pharma in a research report on Thursday, August 8th. Finally, Stifel Nicolaus initiated coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $16.14.

Inozyme Pharma Stock Performance

NASDAQ INZY opened at $4.91 on Friday. Inozyme Pharma has a twelve month low of $2.69 and a twelve month high of $7.80. 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 stock has a market cap of $303.71 million, a P/E ratio of -3.58 and a beta of 1.51. The company’s 50-day simple moving average is $5.28 and its 200 day simple moving average is $4.97.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). As a group, research analysts forecast that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C acquired a new position in shares of Inozyme Pharma during the second quarter worth approximately $52,000. Meeder Asset Management Inc. acquired a new position in Inozyme Pharma during the 2nd quarter worth $68,000. Values First Advisors Inc. acquired a new position in Inozyme Pharma during the 2nd quarter worth $76,000. SG Americas Securities LLC bought a new position in Inozyme Pharma in the 3rd quarter valued at $81,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Inozyme Pharma in the 2nd quarter valued at $84,000. Institutional investors and hedge funds 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.