Inozyme Pharma (NASDAQ:INZY) Given New $12.00 Price Target at Raymond James

Inozyme Pharma (NASDAQ:INZY) had its price objective cut by Raymond James from $24.00 to $12.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on INZY. Piper Sandler dropped their price target on shares of Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC dropped their price target on shares of Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Inozyme Pharma in a research report on Tuesday. Wells Fargo & Company dropped their price target on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $7.00 price target (down from $12.00) on shares of Inozyme Pharma in a research report on Monday, March 10th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $14.56.

Inozyme Pharma Stock Performance

NASDAQ INZY opened at $1.00 on Wednesday. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $1.44 and its two-hundred day moving average price is $3.23. Inozyme Pharma has a 1 year low of $0.98 and a 1 year high of $7.80. The firm has a market capitalization of $64.24 million, a P/E ratio of -0.64 and a beta of 1.32.

Hedge Funds Weigh In On Inozyme Pharma

Institutional investors and hedge funds have recently modified their holdings of the business. 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 in the last quarter. Affinity Asset Advisors LLC grew its stake in Inozyme Pharma by 40.7% during the fourth quarter. Affinity Asset Advisors LLC now owns 3,972,318 shares of the company’s stock worth $11,003,000 after buying an additional 1,150,000 shares in the last quarter. Rock Springs Capital Management LP grew its stake in Inozyme Pharma by 1.6% during the fourth quarter. Rock Springs Capital Management LP now owns 3,861,983 shares of the company’s stock worth $10,698,000 after buying an additional 59,100 shares in the last quarter. Millennium Management LLC grew its stake in Inozyme Pharma by 7.9% during the fourth quarter. Millennium Management LLC now owns 1,882,274 shares of the company’s stock worth $5,214,000 after buying an additional 137,821 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Inozyme Pharma by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,179,622 shares of the company’s stock worth $3,268,000 after buying an additional 8,450 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

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.