Analysts Set Expectations for Inozyme Pharma FY2024 Earnings

Inozyme Pharma, Inc. (NASDAQ:INZY) – Analysts at Wedbush upped their FY2024 earnings estimates for shares of Inozyme Pharma in a research note issued on Tuesday, November 5th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($1.65) per share for the year, up from their previous forecast of ($1.73). Wedbush currently has a “Outperform” rating and a $12.00 price target on the stock. The consensus estimate for Inozyme Pharma’s current full-year earnings is ($1.68) per share. Wedbush also issued estimates for Inozyme Pharma’s Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($1.45) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($0.81) EPS.

Inozyme Pharma (NASDAQ:INZY) last released its earnings results on Tuesday, August 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07).

A number of other research analysts have also issued reports on INZY. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a research report on Wednesday. Stifel Nicolaus started coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday. Finally, Jefferies Financial Group restated a “buy” rating and issued a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $15.71.

Inozyme Pharma Stock Up 3.9 %

Shares of INZY opened at $4.23 on Thursday. The company has a quick ratio of 9.84, a current ratio of 9.84 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average price is $5.15 and its 200-day moving average price is $4.93. Inozyme Pharma has a 52 week low of $2.71 and a 52 week high of $7.80. The company has a market capitalization of $265.35 million, a price-to-earnings ratio of -2.90 and a beta of 1.54.

Institutional Investors Weigh In On Inozyme Pharma

Institutional investors have recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its position in shares of Inozyme Pharma by 51.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $105,000 after purchasing an additional 6,800 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Inozyme Pharma during the third quarter worth $81,000. Cubist Systematic Strategies LLC purchased a new position in Inozyme Pharma during the second quarter worth $84,000. The Manufacturers Life Insurance Company lifted its position in shares of Inozyme Pharma by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after acquiring an additional 2,690 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Inozyme Pharma by 154.1% during the second quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock valued at $7,974,000 after acquiring an additional 1,084,341 shares during the last quarter. 88.30% of the stock is 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.