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

HC Wainwright reiterated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note released on Wednesday, Benzinga reports. They currently have a $14.00 price target on the stock.

A number of other research firms also recently commented on INZY. Stifel Nicolaus assumed coverage on Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $12.00 price target (down from $15.00) on shares of Inozyme Pharma in a report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and issued a $17.00 price target (up from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a report on Friday, October 25th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Inozyme Pharma currently has an average rating of “Buy” and a consensus target price of $15.71.

Inozyme Pharma Trading Up 1.7 %

Shares of INZY stock traded up $0.07 on Wednesday, reaching $4.30. 27,968 shares of the stock were exchanged, compared to its average volume of 416,387. The stock has a market cap of $269.74 million, a P/E ratio of -2.90 and a beta of 1.54. 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 firm has a 50 day moving average of $5.15 and a two-hundred day moving average of $4.93. Inozyme Pharma has a 1-year low of $2.71 and a 1-year high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. On average, research analysts anticipate that Inozyme Pharma will post -1.68 EPS for the current 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 INZY. Deerfield Management Company L.P. Series C purchased a new position in Inozyme Pharma in the 2nd quarter valued at about $52,000. Meeder Asset Management Inc. bought a new position in shares of Inozyme Pharma during the second quarter worth about $68,000. Values First Advisors Inc. bought a new position in shares of Inozyme Pharma during the second quarter worth about $76,000. SG Americas Securities LLC bought a new position in shares of Inozyme Pharma during the third quarter worth about $81,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Inozyme Pharma during the second quarter worth about $84,000. 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.