Inozyme Pharma (NASDAQ:INZY) Price Target Cut to $30.00 by Analysts at Piper Sandler

Inozyme Pharma (NASDAQ:INZY) had its price target lowered by analysts at Piper Sandler from $43.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock.

A number of other equities research analysts have also commented on the stock. HC Wainwright upped their price target on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday. Raymond James assumed coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a report on Wednesday, November 6th. Finally, Wedbush restated an “outperform” rating and issued a $12.00 price objective on shares of Inozyme Pharma in a report on Friday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inozyme Pharma has a consensus rating of “Buy” and a consensus target price of $18.33.

Inozyme Pharma Price Performance

INZY stock traded down $0.27 during midday trading on Monday, reaching $1.73. The company had a trading volume of 416,044 shares, compared to its average volume of 746,745. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. Inozyme Pharma has a 1 year low of $1.70 and a 1 year high of $7.80. The company has a market capitalization of $111.14 million, a P/E ratio of -1.11 and a beta of 1.35. The firm has a 50-day moving average price of $3.02 and a 200-day moving average price of $4.38.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings results 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 -1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inozyme Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Eventide Asset Management LLC boosted its holdings in shares of Inozyme Pharma by 5.0% in the third quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock worth $21,623,000 after buying an additional 198,216 shares during the last quarter. Samlyn Capital LLC lifted its holdings in Inozyme Pharma by 15.0% during the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after purchasing an additional 437,622 shares in the last quarter. State Street Corp lifted its holdings in Inozyme Pharma by 5.0% during the third quarter. State Street Corp now owns 1,050,420 shares of the company’s stock valued at $5,494,000 after purchasing an additional 50,386 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Inozyme Pharma by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock valued at $6,126,000 after purchasing an additional 19,499 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Inozyme Pharma by 261.4% during the third quarter. Barclays PLC now owns 76,730 shares of the company’s stock valued at $401,000 after purchasing an additional 55,497 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

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.