Inozyme Pharma (NASDAQ:INZY) Earns “Outperform” Rating from Wedbush

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a report released on Tuesday, RTT News reports. They presently have a $15.00 price target on the stock. Wedbush’s price objective points to a potential upside of 239.37% from the stock’s previous close.

Several other research firms have also commented on INZY. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a report on Tuesday. Wells Fargo & Company started coverage on Inozyme Pharma in a report on Thursday, May 30th. They set an “overweight” rating and a $14.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a report on Wednesday, May 8th. Finally, Bank of America lowered their target price on Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.00.

Inozyme Pharma Stock Up 0.2 %

NASDAQ INZY traded up $0.01 on Tuesday, hitting $4.42. 505,123 shares of the stock traded hands, compared to its average volume of 530,705. The stock has a 50-day moving average of $4.60 and a 200 day moving average of $5.09. Inozyme Pharma has a twelve month low of $2.69 and a twelve month high of $7.80. The company has a market capitalization of $273.42 million, a P/E ratio of -3.23 and a beta of 1.53. The company has a current ratio of 14.05, a quick ratio of 14.05 and a debt-to-equity ratio of 0.38.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.03). As a group, analysts expect that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inozyme Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in shares of Inozyme Pharma during the 4th quarter valued at $59,000. SG Americas Securities LLC lifted its position in shares of Inozyme Pharma by 46.9% during the 4th quarter. SG Americas Securities LLC now owns 21,236 shares of the company’s stock valued at $90,000 after acquiring an additional 6,784 shares during the last quarter. Superstring Capital Management LP acquired a new stake in shares of Inozyme Pharma during the 4th quarter valued at $528,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Inozyme Pharma by 346.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 311,880 shares of the company’s stock valued at $1,310,000 after acquiring an additional 242,080 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its position in shares of Inozyme Pharma by 52.2% during the 1st quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock valued at $3,352,000 after acquiring an additional 150,120 shares during the last quarter. 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.