Inozyme Pharma (NASDAQ:INZY) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Inozyme Pharma (NASDAQ:INZY) in a research note released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $16.00 price objective on the stock.

Other analysts have also issued research reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $23.00 target price on shares of Inozyme Pharma in a research note on Tuesday, August 6th. Jefferies Financial Group reiterated a buy rating and issued a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. HC Wainwright reiterated a buy rating and issued a $14.00 target price on shares of Inozyme Pharma in a research note on Thursday, August 8th. Wedbush reissued an outperform rating and issued a $15.00 price target on shares of Inozyme Pharma in a report on Tuesday, August 6th. Finally, Wells Fargo & Company began coverage on shares of Inozyme Pharma in a report on Thursday, May 30th. They issued an overweight rating and a $14.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Inozyme Pharma has a consensus rating of Buy and a consensus price target of $16.14.

Inozyme Pharma Stock Performance

Shares of INZY stock opened at $6.00 on Thursday. Inozyme Pharma has a 12 month low of $2.69 and a 12 month 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. The firm has a market capitalization of $371.14 million, a PE ratio of -4.38 and a beta of 1.52. The firm has a fifty day simple moving average of $5.19 and a two-hundred day simple moving average of $5.17.

Inozyme Pharma (NASDAQ:INZY) last posted its earnings results on Tuesday, August 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07). Analysts forecast that Inozyme Pharma will post -1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Inozyme Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in INZY. The Manufacturers Life Insurance Company lifted its holdings 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 purchasing an additional 2,690 shares during the last quarter. American Century Companies Inc. lifted its holdings in Inozyme Pharma by 11.0% during the second quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after purchasing an additional 5,673 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in Inozyme Pharma during the second quarter valued at about $52,000. Rhumbline Advisers lifted its holdings in Inozyme Pharma by 22.0% during the second quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock valued at $343,000 after purchasing an additional 13,867 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Inozyme Pharma by 8.1% during the second quarter. Renaissance Technologies LLC now owns 187,839 shares of the company’s stock valued at $838,000 after purchasing an additional 14,139 shares during 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.