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

Wedbush restated their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note released on Friday,RTT News reports. The brokerage currently has a $12.00 target price on the stock.

A number of other brokerages have also issued reports on INZY. Raymond James started coverage on shares of Inozyme Pharma in a research report on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price on the stock. HC Wainwright raised their target price on shares of Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus began coverage on shares of Inozyme Pharma in a research note on Thursday, September 12th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $17.25.

Inozyme Pharma Trading Down 28.6 %

Shares of INZY opened at $2.00 on Friday. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $3.07 and its two-hundred day moving average is $4.40. Inozyme Pharma has a twelve month low of $1.97 and a twelve month high of $7.80. The firm has a market capitalization of $128.48 million, a P/E ratio of -1.28 and a beta of 1.35.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05. On average, research analysts predict 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 hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Inozyme Pharma by 31.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after acquiring an additional 6,851 shares during the period. Virtu Financial LLC purchased a new position in shares of Inozyme Pharma in the 3rd quarter valued at $64,000. Barclays PLC raised its stake in shares of Inozyme Pharma by 261.4% in the 3rd quarter. Barclays PLC now owns 76,730 shares of the company’s stock valued at $401,000 after acquiring an additional 55,497 shares during the period. Geode Capital Management LLC raised its stake in shares of Inozyme Pharma by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock valued at $6,126,000 after acquiring an additional 19,499 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Inozyme Pharma by 7.5% in the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock valued at $259,000 after acquiring an additional 3,443 shares during the period. 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.