FY2024 EPS Estimates for Inozyme Pharma Boosted by Analyst

Inozyme Pharma, Inc. (NASDAQ:INZY) – Research analysts at Wedbush increased their FY2024 earnings estimates for shares of Inozyme Pharma in a report released on Tuesday, November 5th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($1.65) for the year, up from their previous forecast of ($1.73). Wedbush has a “Outperform” rating and a $12.00 price objective on the stock. The consensus estimate for Inozyme Pharma’s current full-year earnings is ($1.68) per share. Wedbush also issued estimates for Inozyme Pharma’s Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($1.45) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($0.81) EPS.

Inozyme Pharma (NASDAQ:INZY) last announced its earnings results on Tuesday, August 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07).

A number of other brokerages have also recently issued reports on INZY. Stifel Nicolaus began coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They set 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 target (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $15.71.

Inozyme Pharma Stock Performance

Shares of Inozyme Pharma stock opened at $4.23 on Thursday. The company has a market cap of $265.35 million, a P/E ratio of -2.90 and a beta of 1.54. The business has a 50-day moving average price of $5.15 and a two-hundred day moving average price of $4.93. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48. Inozyme Pharma has a 1-year low of $2.71 and a 1-year high of $7.80.

Hedge Funds Weigh In On Inozyme Pharma

Hedge funds have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C purchased a new position in Inozyme Pharma during the 2nd quarter valued at $52,000. Meeder Asset Management Inc. purchased a new stake in shares of Inozyme Pharma during the 2nd quarter valued at about $68,000. SG Americas Securities LLC bought a new position in shares of Inozyme Pharma during the 3rd quarter valued at $81,000. Values First Advisors Inc. purchased a new position in Inozyme Pharma in the second quarter worth about $76,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Inozyme Pharma during the second quarter valued at approximately $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.