Wedbush Reaffirms Outperform Rating for Inozyme Pharma (NASDAQ:INZY)

Wedbush restated their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note released on Thursday morning, MarketBeat.com reports. Wedbush currently has a $15.00 price objective on the stock.

Several other analysts also recently issued reports on INZY. Bank of America cut their price target on Inozyme Pharma from $16.00 to $14.00 and set a buy rating on the stock 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 research note on Tuesday, July 2nd. Needham & Company LLC reaffirmed a buy rating and set a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company started coverage on Inozyme Pharma in a research note on Thursday, May 30th. They set an overweight rating and a $14.00 target price on the stock. Five equities 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 an average price target of $16.00.

Inozyme Pharma Trading Up 0.7 %

Shares of NASDAQ INZY opened at $5.83 on Thursday. The company has a market cap of $360.64 million, a price-to-earnings ratio of -4.26 and a beta of 1.53. Inozyme Pharma has a 12-month low of $2.69 and a 12-month high of $7.80. The company has a current ratio of 14.05, a quick ratio of 14.05 and a debt-to-equity ratio of 0.38. The stock’s 50 day simple moving average is $4.82 and its 200 day simple moving average is $5.20.

Inozyme Pharma (NASDAQ:INZY) last announced 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). Equities research analysts expect that Inozyme Pharma will post -1.59 EPS for the current year.

Hedge Funds Weigh In On Inozyme Pharma

Several hedge funds have recently modified their holdings of the company. Eventide Asset Management LLC increased its position in shares of Inozyme Pharma by 1.8% during the 4th quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock valued at $13,546,000 after purchasing an additional 54,837 shares during the period. Affinity Asset Advisors LLC grew its holdings in shares of Inozyme Pharma by 40.1% in the 1st quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock worth $20,242,000 after acquiring an additional 756,717 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Inozyme Pharma by 1.4% during the first quarter. Vanguard Group Inc. now owns 2,419,020 shares of the company’s stock valued at $18,530,000 after buying an additional 33,998 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Inozyme Pharma by 52.2% during the first quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock valued at $3,352,000 after buying an additional 150,120 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Inozyme Pharma by 16.1% during the second quarter. Bank of New York Mellon Corp now owns 190,896 shares of the company’s stock valued at $851,000 after buying an additional 26,464 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

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.