Inozyme Pharma (NASDAQ:INZY) Announces Earnings Results

Inozyme Pharma (NASDAQ:INZY) issued its quarterly earnings results on Tuesday. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05, Zacks reports.

Inozyme Pharma Price Performance

Shares of NASDAQ:INZY traded down $0.13 during midday trading on Thursday, reaching $4.10. The company’s stock had a trading volume of 517,110 shares, compared to its average volume of 418,650. The business’s fifty day simple moving average is $5.13 and its 200-day simple moving average is $4.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.84 and a quick ratio of 9.84. The company has a market capitalization of $257.19 million, a P/E ratio of -2.81 and a beta of 1.54. Inozyme Pharma has a fifty-two week low of $2.71 and a fifty-two week high of $7.80.

Analysts Set New Price Targets

A number of analysts have commented on INZY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Inozyme Pharma in a research note on Wednesday. Stifel Nicolaus assumed coverage on Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating and issued a $17.00 price objective (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Finally, Wedbush reissued an “outperform” rating and issued a $12.00 price objective (down from $15.00) on shares of Inozyme Pharma in a research report on Tuesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.71.

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.