HC Wainwright Reiterates Buy Rating for Inozyme Pharma (NASDAQ:INZY)

HC Wainwright reiterated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a report issued on Wednesday morning,Benzinga reports. They currently have a $14.00 price objective on the stock. HC Wainwright also issued estimates for Inozyme Pharma’s Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.62) EPS, FY2025 earnings at ($1.74) EPS and FY2026 earnings at ($1.89) EPS.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and set a $17.00 price target (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research note on Friday, October 25th. Stifel Nicolaus initiated coverage on Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.71.

Inozyme Pharma Price Performance

Shares of NASDAQ:INZY traded down $0.08 during mid-day trading on Wednesday, reaching $4.02. The company had a trading volume of 322,995 shares, compared to its average volume of 270,187. The company has a current ratio of 7.68, a quick ratio of 9.84 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $5.10 and its 200-day moving average price is $4.92. Inozyme Pharma has a one year low of $2.71 and a one year high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. As a group, sell-side analysts expect that Inozyme Pharma will post -1.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Inozyme Pharma by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 2,419,020 shares of the company’s stock worth $18,530,000 after purchasing an additional 33,998 shares during the last quarter. Affinity Asset Advisors LLC increased its position in shares of Inozyme Pharma by 40.1% in 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 in the last quarter. Kennedy Capital Management LLC raised its position in Inozyme Pharma by 52.2% during the first quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock worth $3,352,000 after acquiring an additional 150,120 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Inozyme Pharma during the 2nd quarter worth approximately $76,000. Finally, Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 26,464 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.