Inozyme Pharma, Inc. (NASDAQ:INZY) Receives $18.33 Consensus Target Price from Brokerages

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.33.

A number of equities analysts recently weighed in on INZY shares. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a report on Wednesday, November 6th. HC Wainwright boosted their price target on shares of Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Wedbush reissued an “outperform” rating and issued a $12.00 price target on shares of Inozyme Pharma in a report on Friday, January 10th. Piper Sandler cut their price target on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, January 13th.

Institutional Investors Weigh In On Inozyme Pharma

Institutional investors have recently added to or reduced their stakes in the business. abrdn plc purchased a new stake in shares of Inozyme Pharma in the fourth quarter worth about $472,000. Eventide Asset Management LLC lifted its holdings in shares of Inozyme Pharma by 5.0% in 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. Barclays PLC lifted its holdings in shares of Inozyme Pharma by 261.4% in the third quarter. Barclays PLC now owns 76,730 shares of the company’s stock worth $401,000 after buying an additional 55,497 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Inozyme Pharma by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock worth $6,126,000 after buying an additional 19,499 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Inozyme Pharma by 5.0% in the third quarter. State Street Corp now owns 1,050,420 shares of the company’s stock worth $5,494,000 after buying an additional 50,386 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

Inozyme Pharma Price Performance

Shares of NASDAQ:INZY opened at $1.19 on Friday. The company’s 50-day moving average is $1.73 and its 200 day moving average is $3.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. The company has a market capitalization of $76.45 million, a P/E ratio of -0.76 and a beta of 1.32. Inozyme Pharma has a fifty-two week low of $1.04 and a fifty-two week high of $7.80.

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.