Inozyme Pharma, Inc. (NASDAQ:INZY) Receives $17.00 Average PT from Brokerages

Inozyme Pharma, Inc. (NASDAQ:INZY) has earned a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.33.

Several research analysts have recently issued reports on INZY shares. Wedbush reiterated an “outperform” rating and issued a $12.00 price objective on shares of Inozyme Pharma in a report on Friday, January 10th. HC Wainwright lifted their price target on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Piper Sandler dropped their price objective on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company decreased their target price on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research report on Wednesday, November 6th.

Inozyme Pharma Stock Down 12.2 %

INZY stock opened at $1.51 on Friday. The stock has a market cap of $97.00 million, a PE ratio of -0.97 and a beta of 1.35. The firm’s 50-day simple moving average is $2.91 and its 200 day simple moving average is $4.34. Inozyme Pharma has a fifty-two week low of $1.45 and a fifty-two week high of $7.80. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly earnings data 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 predict that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INZY. Deerfield Management Company L.P. Series C purchased a new stake in Inozyme Pharma in the 2nd quarter worth approximately $52,000. Virtu Financial LLC purchased a new stake in shares of Inozyme Pharma during the third quarter worth $64,000. Meeder Asset Management Inc. acquired a new stake in Inozyme Pharma during the second quarter valued at $68,000. SG Americas Securities LLC acquired a new position in Inozyme Pharma in the 3rd quarter worth about $81,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Inozyme Pharma during the 2nd quarter worth about $84,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.