Wedbush Reaffirms “Outperform” Rating for Inozyme Pharma (NASDAQ:INZY)

Wedbush reiterated their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a report released on Friday morning,RTT News reports. They currently have a $12.00 price objective on the stock.

A number of other research analysts also recently weighed in on the stock. Raymond James began coverage on shares of Inozyme Pharma in a research report on Thursday, December 12th. They issued an “outperform” rating and a $26.00 price objective for the company. Stifel Nicolaus assumed coverage on Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a report on Wednesday, November 6th. Finally, HC Wainwright upped their target price on Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inozyme Pharma presently has an average rating of “Buy” and a consensus price target of $17.25.

Inozyme Pharma Stock Down 28.6 %

Inozyme Pharma stock opened at $2.00 on Friday. Inozyme Pharma has a 52 week low of $1.97 and a 52 week high of $7.80. The firm has a market cap of $128.48 million, a price-to-earnings ratio of -1.28 and a beta of 1.35. The business’s 50-day moving average price is $3.02 and its 200 day moving average price is $4.38. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. As a group, sell-side analysts anticipate that Inozyme Pharma will post -1.59 earnings per share for the current year.

Institutional Investors Weigh In On Inozyme Pharma

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in Inozyme Pharma by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after acquiring an additional 2,690 shares during the last quarter. Jane Street Group LLC lifted its stake in Inozyme Pharma by 7.5% in the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after purchasing an additional 3,443 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Inozyme Pharma by 11.0% during 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 last quarter. OneDigital Investment Advisors LLC grew its position in shares of Inozyme Pharma by 51.5% in the third 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. Finally, JPMorgan Chase & Co. increased its holdings in shares of Inozyme Pharma by 31.0% in the third quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after purchasing an additional 6,851 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

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.