Piper Sandler Cuts Inozyme Pharma (NASDAQ:INZY) Price Target to $23.00

Inozyme Pharma (NASDAQ:INZY) had its price target lowered by analysts at Piper Sandler from $30.00 to $23.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock.

INZY has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Inozyme Pharma in a research report on Tuesday. Raymond James initiated coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They issued an “outperform” rating and a $26.00 price target for the company. Wedbush restated an “outperform” rating and set a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a report on Monday. Wells Fargo & Company lowered their price target on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Needham & Company LLC reduced their price objective on Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Inozyme Pharma presently has a consensus rating of “Buy” and an average price target of $16.11.

Inozyme Pharma Stock Performance

NASDAQ:INZY traded down $0.07 during midday trading on Tuesday, reaching $0.99. The stock had a trading volume of 332,246 shares, compared to its average volume of 507,723. The stock has a market capitalization of $63.53 million, a P/E ratio of -0.63 and a beta of 1.32. Inozyme Pharma has a 1-year low of $0.98 and a 1-year high of $7.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. The firm’s fifty day simple moving average is $1.59 and its 200-day simple moving average is $3.33.

Institutional Trading of Inozyme Pharma

A number of large investors have recently bought and sold shares of INZY. OneDigital Investment Advisors LLC boosted its stake in shares of Inozyme Pharma by 51.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $105,000 after purchasing an additional 6,800 shares in the last quarter. Eventide Asset Management LLC grew its stake in Inozyme Pharma by 5.0% during the third quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock worth $21,623,000 after buying an additional 198,216 shares during the last quarter. Readystate Asset Management LP acquired a new stake in shares of Inozyme Pharma during the third quarter worth approximately $100,000. State Street Corp raised its stake in shares of 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 last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Inozyme Pharma by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 260,719 shares of the company’s stock worth $1,364,000 after acquiring an additional 27,739 shares in the last quarter. 88.30% of the stock is currently owned by 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.