Analysts Set Inozyme Pharma, Inc. (NASDAQ:INZY) Target Price at $15.71

Inozyme Pharma, Inc. (NASDAQ:INZY) has been assigned an average rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $15.71.

INZY has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $12.00 price target (down from $15.00) on shares of Inozyme Pharma in a research note on Tuesday, November 5th. Stifel Nicolaus started coverage on Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective for the company. Jefferies Financial Group restated 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On Inozyme Pharma

Several hedge funds have recently bought and sold shares of INZY. The Manufacturers Life Insurance Company lifted its position in shares of Inozyme Pharma by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after buying an additional 2,690 shares during the last quarter. Jane Street Group LLC lifted its holdings in Inozyme Pharma by 7.5% in the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after purchasing an additional 3,443 shares during the last quarter. American Century Companies Inc. lifted its holdings in Inozyme Pharma by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock worth $255,000 after purchasing an additional 5,673 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in Inozyme Pharma by 51.5% during the third quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $105,000 after purchasing an additional 6,800 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in Inozyme Pharma during the second quarter valued at approximately $52,000. 88.30% of the stock is owned by institutional investors and hedge funds.

Inozyme Pharma Stock Up 4.5 %

NASDAQ:INZY opened at $2.81 on Thursday. The business’s fifty day moving average price is $4.66 and its 200 day moving average price is $4.83. The firm has a market capitalization of $180.51 million, a price-to-earnings ratio of -1.80 and a beta of 1.54. 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 has a 1-year low of $2.61 and a 1-year high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last released 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. On average, sell-side analysts forecast that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

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.