HC Wainwright Reiterates Buy Rating for Inozyme Pharma (NASDAQ:INZY)

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $16.00 target price on the stock.

INZY has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $7.00 price target (down previously from $12.00) on shares of Inozyme Pharma in a research note on Monday. Needham & Company LLC dropped their price target on Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their price objective on 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 started coverage on Inozyme Pharma in a research report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Piper Sandler decreased their price objective on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $14.56.

Inozyme Pharma Trading Up 1.9 %

NASDAQ:INZY opened at $1.08 on Tuesday. The stock’s 50 day moving average price is $1.52 and its 200 day moving average price is $3.28. The company has a market capitalization of $69.38 million, a PE ratio of -0.69 and a beta of 1.32. 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 has a 52-week low of $0.98 and a 52-week high of $7.80.

Institutional Investors Weigh In On Inozyme Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. OneDigital Investment Advisors LLC grew its position in Inozyme Pharma by 51.5% during the third quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $105,000 after acquiring an additional 6,800 shares during the period. Eventide Asset Management LLC lifted its stake in shares of 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 purchasing an additional 198,216 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of Inozyme Pharma during the third quarter worth about $100,000. State Street Corp lifted its stake in shares of Inozyme Pharma by 5.0% during the third quarter. State Street Corp now owns 1,050,420 shares of the company’s stock worth $5,494,000 after purchasing an additional 50,386 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Inozyme Pharma by 11.9% during the third quarter. Wellington Management Group LLP now owns 260,719 shares of the company’s stock worth $1,364,000 after purchasing an additional 27,739 shares in 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.