Stifel Nicolaus Initiates Coverage on Inozyme Pharma (NASDAQ:INZY)

Stifel Nicolaus initiated coverage on shares of Inozyme Pharma (NASDAQ:INZY) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $16.00 price target on the stock. Stifel Nicolaus’ price objective points to a potential upside of 207.10% from the stock’s previous close.

Several other research analysts also recently issued reports on INZY. Wedbush restated an “outperform” rating and set a $15.00 price objective on shares of Inozyme Pharma in a research report on Tuesday, August 6th. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Inozyme Pharma in a research report on Thursday, August 8th. Jefferies Financial Group restated a “buy” rating and set a $17.00 price objective (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company initiated coverage on Inozyme Pharma in a research report on Thursday, May 30th. They set an “overweight” rating and a $14.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Inozyme Pharma currently has an average rating of “Buy” and an average price target of $16.14.

Inozyme Pharma Price Performance

Shares of INZY opened at $5.21 on Thursday. The stock’s 50 day moving average is $5.13 and its two-hundred day moving average is $5.19. Inozyme Pharma has a twelve month low of $2.69 and a twelve month high of $7.80. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $322.27 million, a PE ratio of -3.80 and a beta of 1.52.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Research analysts anticipate that Inozyme Pharma will post -1.67 earnings per share for the current year.

Institutional Trading of Inozyme Pharma

Institutional investors have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C purchased a new stake in shares of Inozyme Pharma during the 2nd quarter valued at $52,000. Meeder Asset Management Inc. purchased a new stake in Inozyme Pharma during the 2nd quarter worth $68,000. Values First Advisors Inc. purchased a new stake in Inozyme Pharma during the 2nd quarter worth $76,000. Cubist Systematic Strategies LLC purchased a new stake in Inozyme Pharma during the 2nd quarter worth $84,000. Finally, The Manufacturers Life Insurance Company boosted its position in Inozyme Pharma by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after purchasing an additional 2,690 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

About Inozyme Pharma

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.