Wells Fargo & Company Cuts Inozyme Pharma (NASDAQ:INZY) Price Target to $11.00

Inozyme Pharma (NASDAQ:INZY) had its target price decreased by Wells Fargo & Company from $14.00 to $11.00 in a report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on INZY. HC Wainwright lifted their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Wedbush reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Inozyme Pharma in a report on Friday, January 10th. Raymond James started coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a report on Wednesday, November 6th. Finally, Piper Sandler dropped their price objective on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a report on Monday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $18.33.

Inozyme Pharma Stock Down 8.6 %

Shares of NASDAQ:INZY opened at $1.38 on Monday. The firm has a fifty day moving average price of $2.86 and a two-hundred day moving average price of $4.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. Inozyme Pharma has a one year low of $1.38 and a one year high of $7.80. The company has a market cap of $88.65 million, a price-to-earnings ratio of -0.88 and a beta of 1.35.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. Analysts anticipate that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Trading of Inozyme Pharma

Several hedge funds have recently added to or reduced their stakes in the business. Eventide Asset Management LLC lifted its stake in Inozyme Pharma by 5.0% in the third quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock worth $21,623,000 after purchasing an additional 198,216 shares during the last quarter. Samlyn Capital LLC lifted its stake in Inozyme Pharma by 15.0% in the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock worth $14,943,000 after purchasing an additional 437,622 shares during the last quarter. Affinity Asset Advisors LLC lifted its stake in Inozyme Pharma by 8.1% in the second quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company’s stock worth $12,739,000 after purchasing an additional 213,733 shares during the last quarter. Millennium Management LLC lifted its stake in Inozyme Pharma by 154.1% in the second quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock worth $7,974,000 after purchasing an additional 1,084,341 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Inozyme Pharma by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock worth $6,126,000 after purchasing an additional 19,499 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

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.