Inozyme Pharma (NASDAQ:INZY) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $14.00 target price on the stock.

Other analysts have also recently issued reports about the company. Jefferies Financial Group reissued a “buy” rating and issued a $17.00 price target (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Stifel Nicolaus assumed coverage on Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $15.00 price target on shares of Inozyme Pharma in a research report on Monday, September 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research report on Friday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $16.14.

Inozyme Pharma Stock Down 2.4 %

INZY stock opened at $4.79 on Friday. Inozyme Pharma has a fifty-two week low of $2.69 and a fifty-two week high of $7.80. The business’s 50 day moving average price is $5.29 and its two-hundred day moving average price is $4.95. The company has a debt-to-equity ratio of 0.48, a quick ratio of 9.84 and a current ratio of 9.84. The company has a market capitalization of $300.48 million, a price-to-earnings ratio of -3.28 and a beta of 1.51.

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

Hedge Funds Weigh In On Inozyme Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C bought a new position in Inozyme Pharma in the 2nd quarter valued at approximately $52,000. Meeder Asset Management Inc. bought a new position in shares of Inozyme Pharma during the 2nd quarter valued at $68,000. Values First Advisors Inc. bought a new position in shares of Inozyme Pharma during the 2nd quarter valued at $76,000. SG Americas Securities LLC bought a new position in shares of Inozyme Pharma during the 3rd quarter valued at $81,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Inozyme Pharma during the 2nd quarter valued at $84,000. 88.30% of the stock is owned by institutional investors.

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.