Inozyme Pharma (NASDAQ:INZY) Given Outperform Rating at Wedbush

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report released on Tuesday, RTT News reports. They presently have a $12.00 price objective on the stock, down from their previous price objective of $15.00. Wedbush’s price target suggests a potential upside of 194.84% from the company’s previous close.

A number of other brokerages have also recently commented on INZY. Stifel Nicolaus initiated coverage on Inozyme Pharma in a research note on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a research report on Friday, October 25th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Inozyme Pharma in a research report on Friday, October 25th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $17.00 target price (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $15.71.

Inozyme Pharma Trading Down 7.9 %

INZY traded down $0.35 on Tuesday, reaching $4.07. 417,795 shares of the company’s stock were exchanged, compared to its average volume of 417,193. The company has a market cap of $255.31 million, a price-to-earnings ratio of -2.79 and a beta of 1.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 9.84 and a current ratio of 9.84. Inozyme Pharma has a twelve month low of $2.71 and a twelve month high of $7.80. The company’s 50 day moving average is $5.21 and its 200-day moving average is $4.94.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Tuesday, August 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Equities analysts predict that Inozyme Pharma will post -1.68 earnings per share for the current year.

Institutional Trading of Inozyme Pharma

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in Inozyme Pharma by 154.1% in the second quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock valued at $7,974,000 after buying an additional 1,084,341 shares during the last quarter. Affinity Asset Advisors LLC increased its holdings in shares of Inozyme Pharma by 40.1% in the 1st quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock valued at $20,242,000 after acquiring an additional 756,717 shares during the last quarter. Samlyn Capital LLC raised its position in shares of Inozyme Pharma by 15.0% during the 2nd quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after acquiring an additional 437,622 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Inozyme Pharma by 117.6% during the second quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock worth $1,695,000 after purchasing an additional 205,417 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in Inozyme Pharma by 52.2% in the first quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock worth $3,352,000 after purchasing an additional 150,120 shares during the period. Institutional investors and hedge funds 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.