Inozyme Pharma (NASDAQ:INZY) Posts Earnings Results, Beats Expectations By $0.05 EPS

Inozyme Pharma (NASDAQ:INZY) issued its quarterly earnings results on Tuesday. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05, Zacks reports.

Inozyme Pharma Price Performance

Shares of Inozyme Pharma stock traded down $0.13 on Thursday, reaching $4.10. The stock had a trading volume of 516,644 shares, compared to its average volume of 418,649. The business’s 50 day moving average is $5.15 and its two-hundred day moving average is $4.93. The company has a market cap of $257.19 million, a P/E ratio of -2.90 and a beta of 1.54. Inozyme Pharma has a 1 year low of $2.71 and a 1 year high of $7.80. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INZY. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating and set a $17.00 price objective (up from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. Stifel Nicolaus assumed coverage on Inozyme Pharma in a research report on Thursday, September 12th. They set a “buy” rating and a $16.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Inozyme Pharma in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Inozyme Pharma presently has a consensus rating of “Buy” and a consensus target price of $15.71.

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.