Inozyme Pharma’s (INZY) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $23.00 price target on the stock.

INZY has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Inozyme Pharma in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. Stifel Nicolaus assumed coverage on Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $12.00 price objective (down from $15.00) on shares of Inozyme Pharma in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $15.71.

Inozyme Pharma Stock Performance

Inozyme Pharma stock traded down $0.08 during midday trading on Wednesday, hitting $4.02. The company’s stock had a trading volume of 322,995 shares, compared to its average volume of 270,187. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 9.84. Inozyme Pharma has a 1-year low of $2.71 and a 1-year high of $7.80. The company has a 50-day moving average price of $5.10 and a two-hundred day moving average price of $4.92.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. As a group, research analysts anticipate that Inozyme Pharma will post -1.67 earnings per share for the current year.

Institutional Trading of Inozyme Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in Inozyme Pharma by 154.1% during the 2nd quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock worth $7,974,000 after purchasing an additional 1,084,341 shares during the last quarter. Affinity Asset Advisors LLC boosted its position in shares of Inozyme Pharma by 40.1% during the 1st quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock valued at $20,242,000 after purchasing an additional 756,717 shares in the last quarter. Samlyn Capital LLC lifted its position in shares of Inozyme Pharma by 15.0% during the 2nd quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after acquiring an additional 437,622 shares during the period. Dimensional Fund Advisors LP grew its holdings in Inozyme Pharma by 117.6% in the second quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock worth $1,695,000 after purchasing an additional 205,417 shares during the period. Finally, Kennedy Capital Management LLC increased its stake in Inozyme Pharma by 52.2% in the first quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock valued at $3,352,000 after purchasing an additional 150,120 shares in the last quarter. 88.30% of the stock is currently owned by 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.