Inozyme Pharma’s (INZY) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a report issued on Tuesday, Benzinga reports. The firm currently has a $14.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company initiated coverage on shares of Inozyme Pharma in a research note on Thursday, May 30th. They set an overweight rating and a $14.00 target price on the stock. Bank of America reduced their price objective on Inozyme Pharma from $16.00 to $14.00 and set a buy rating for the company in a research note on Tuesday, April 9th. Wedbush reaffirmed an outperform rating and set a $15.00 price objective on shares of Inozyme Pharma in a research note on Tuesday, May 7th. Finally, Needham & Company LLC reiterated a buy rating and set a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, May 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $16.00.

Inozyme Pharma Stock Up 1.6 %

Shares of INZY stock opened at $4.49 on Tuesday. The stock’s 50-day simple moving average is $4.60 and its 200-day simple moving average is $5.08. The firm has a market capitalization of $277.75 million, a PE ratio of -3.28 and a beta of 1.53. Inozyme Pharma has a fifty-two week low of $2.69 and a fifty-two week 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.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Equities analysts expect that Inozyme Pharma will post -1.59 earnings per share for the current year.

Institutional Investors Weigh In On Inozyme Pharma

Several large investors have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC increased its position in shares of Inozyme Pharma by 52.2% in the 1st quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock valued at $3,352,000 after purchasing an additional 150,120 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in Inozyme Pharma by 40.1% in the first quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock valued at $20,242,000 after purchasing an additional 756,717 shares in the last quarter. Vanguard Group Inc. raised its holdings in Inozyme Pharma by 1.4% during the first quarter. Vanguard Group Inc. now owns 2,419,020 shares of the company’s stock worth $18,530,000 after purchasing an additional 33,998 shares in the last quarter. Eventide Asset Management LLC raised its stake in Inozyme Pharma by 1.8% during the 4th quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock worth $13,546,000 after acquiring an additional 54,837 shares in the last quarter. Finally, Superstring Capital Management LP acquired a new position in Inozyme Pharma in the fourth quarter valued at $528,000. 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.