Inozyme Pharma, Inc. (NASDAQ:INZY) Receives Consensus Recommendation of “Buy” from Analysts

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

Several analysts have recently weighed in on INZY shares. Piper Sandler lowered their target price on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James initiated coverage on Inozyme Pharma in a research note on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Inozyme Pharma in a research report on Friday, January 10th. Wells Fargo & Company reduced 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 restated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th.

Inozyme Pharma Stock Performance

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

Inozyme Pharma (NASDAQ:INZY) last announced its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. As a group, sell-side analysts expect that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Trading of Inozyme Pharma

Several institutional investors have recently added to or reduced their stakes in INZY. Eventide Asset Management LLC boosted its holdings in shares of Inozyme Pharma by 5.0% in the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock valued at $21,623,000 after buying an additional 198,216 shares during the period. Samlyn Capital LLC lifted its holdings 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 acquiring an additional 437,622 shares during the last quarter. State Street Corp boosted its stake in Inozyme Pharma by 5.0% in the third quarter. State Street Corp now owns 1,050,420 shares of the company’s stock valued at $5,494,000 after acquiring an additional 50,386 shares during the period. Barclays PLC grew its holdings in shares of Inozyme Pharma by 261.4% during the third quarter. Barclays PLC now owns 76,730 shares of the company’s stock valued at $401,000 after purchasing an additional 55,497 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Inozyme Pharma by 1.7% during the 3rd 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 period. Institutional investors 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.