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

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a report released on Tuesday, RTT News reports. They presently have a $15.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 239.37% from the company’s previous close.

Several other brokerages also recently commented on INZY. Bank of America reduced their target price on shares of Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a report on Tuesday. Wells Fargo & Company initiated coverage on shares of Inozyme Pharma in a report on Thursday, May 30th. They set an “overweight” rating and a $14.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a report on Wednesday, May 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $16.00.

Inozyme Pharma Trading Up 0.2 %

INZY traded up $0.01 during mid-day trading on Tuesday, hitting $4.42. The stock had a trading volume of 505,123 shares, compared to its average volume of 530,705. Inozyme Pharma has a 1-year low of $2.69 and a 1-year high of $7.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.05 and a quick ratio of 14.05. The stock’s fifty day simple moving average is $4.60 and its 200-day simple moving average is $5.09. The firm has a market capitalization of $273.42 million, a price-to-earnings ratio of -3.23 and a beta of 1.53.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.03). As a group, research analysts forecast that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INZY. Adage Capital Partners GP L.L.C. raised its holdings in shares of Inozyme Pharma by 30.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 5,537,500 shares of the company’s stock valued at $23,258,000 after purchasing an additional 1,287,500 shares during the last quarter. Rock Springs Capital Management LP grew its position in Inozyme Pharma by 7.4% during the third quarter. Rock Springs Capital Management LP now owns 3,681,174 shares of the company’s stock valued at $15,461,000 after buying an additional 253,090 shares during the period. Eventide Asset Management LLC grew its position in Inozyme Pharma by 1.8% during the fourth quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock valued at $13,546,000 after buying an additional 54,837 shares during the period. Affinity Asset Advisors LLC grew its position in Inozyme Pharma by 40.1% during the first quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock valued at $20,242,000 after buying an additional 756,717 shares during the period. Finally, FMR LLC grew its position in Inozyme Pharma by 229.2% during the third quarter. FMR LLC now owns 2,465,232 shares of the company’s stock valued at $10,354,000 after buying an additional 1,716,398 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.