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

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $14.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 223.33% from the company’s previous close.

INZY has been the topic of a number of other reports. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of Inozyme Pharma in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research note on Tuesday. Finally, Wells Fargo & Company initiated coverage on shares of Inozyme Pharma in a report on Thursday, May 30th. They issued an “overweight” rating and a $14.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $16.00.

Inozyme Pharma Price Performance

Shares of INZY traded down $0.05 during mid-day trading on Thursday, reaching $4.33. The company had a trading volume of 189,043 shares, compared to its average volume of 482,973. The company’s 50 day simple moving average is $4.90 and its 200 day simple moving average is $5.24. Inozyme Pharma has a 1-year low of $2.69 and a 1-year high of $7.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 14.05 and a current ratio of 14.05. The company has a market capitalization of $267.84 million, a price-to-earnings ratio of -3.16 and a beta of 1.52.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Analysts expect that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Inozyme Pharma in the 2nd quarter worth approximately $68,000. Values First Advisors Inc. acquired a new position in shares of Inozyme Pharma in the 2nd quarter worth approximately $76,000. SG Americas Securities LLC lifted its position in shares of Inozyme Pharma by 46.9% in the 4th quarter. SG Americas Securities LLC now owns 21,236 shares of the company’s stock worth $90,000 after purchasing an additional 6,784 shares during the period. American Century Companies Inc. lifted its position in shares of Inozyme Pharma by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock worth $255,000 after purchasing an additional 5,673 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Inozyme Pharma by 22.0% in the 2nd quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock worth $343,000 after purchasing an additional 13,867 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.