Inozyme Pharma, Inc. (NASDAQ:INZY) Given Average Rating of “Buy” by Brokerages

Inozyme Pharma, Inc. (NASDAQ:INZY) has been assigned an average recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $14.56.

Several equities research analysts recently weighed in on INZY shares. Wells Fargo & Company cut their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Raymond James cut their price target on shares of Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Needham & Company LLC decreased their price objective on shares of Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Piper Sandler lowered their price objective on shares of Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $7.00 target price (down previously from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th.

Institutional Trading of Inozyme Pharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC raised its position in Inozyme Pharma by 7.5% in the third quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock valued at $259,000 after purchasing an additional 3,443 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 buying an additional 6,851 shares during the period. Palumbo Wealth Management LLC increased its stake in shares of Inozyme Pharma by 52.3% in the fourth quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock valued at $64,000 after buying an additional 7,995 shares during the period. American Century Companies Inc. raised its holdings in Inozyme Pharma by 11.6% in the 4th quarter. American Century Companies Inc. now owns 79,349 shares of the company’s stock valued at $220,000 after buying an additional 8,263 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Inozyme Pharma by 0.7% during the 4th 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 during the period. Institutional investors own 88.30% of the company’s stock.

Inozyme Pharma Stock Performance

NASDAQ:INZY opened at $0.97 on Wednesday. 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 fifty-two week low of $0.91 and a fifty-two week high of $7.80. The company has a market cap of $62.38 million, a price-to-earnings ratio of -0.62 and a beta of 1.32. The stock has a fifty day moving average price of $1.25 and a 200-day moving average price of $2.99.

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.