Inozyme Pharma (NASDAQ:INZY) Price Target Cut to $11.00 by Analysts at Wells Fargo & Company

Inozyme Pharma (NASDAQ:INZY) had its target price lowered by Wells Fargo & Company from $14.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock.

A number of other equities research analysts have also weighed in on INZY. Raymond James began coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $12.00 price objective on shares of Inozyme Pharma in a research note on Friday. HC Wainwright raised their price objective on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler reduced their price objective on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Inozyme Pharma presently has an average rating of “Buy” and a consensus target price of $18.33.

Inozyme Pharma Price Performance

INZY traded down $0.27 during trading on Monday, hitting $1.73. 416,044 shares of the company traded hands, compared to its average volume of 746,745. The company has a market cap of $111.14 million, a PE ratio of -1.11 and a beta of 1.35. The stock’s 50-day simple moving average is $3.02 and its two-hundred day simple moving average is $4.38. Inozyme Pharma has a 1 year low of $1.70 and a 1 year high of $7.80. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51.

Inozyme Pharma (NASDAQ:INZY) last posted its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. As a group, sell-side analysts anticipate that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C purchased a new stake in Inozyme Pharma during the 2nd quarter worth about $52,000. Virtu Financial LLC acquired a new stake in Inozyme Pharma in the 3rd quarter worth about $64,000. SG Americas Securities LLC purchased a new stake in shares of Inozyme Pharma during the 3rd quarter valued at $81,000. Cubist Systematic Strategies LLC acquired a new stake in Inozyme Pharma during the 2nd quarter worth approximately $84,000. Finally, The Manufacturers Life Insurance Company lifted its position in Inozyme Pharma by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after buying an additional 2,690 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.