Analysts Set Inozyme Pharma, Inc. (NASDAQ:INZY) Price Target at $17.00

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have received a consensus rating of “Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $17.00.

Several analysts recently issued reports on INZY shares. Wedbush reissued an “outperform” rating and issued a $12.00 target price (down from $15.00) on shares of Inozyme Pharma in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Stifel Nicolaus started coverage on Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Finally, Raymond James started coverage on shares of Inozyme Pharma in a research report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective on the stock.

Institutional Investors Weigh In On Inozyme Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INZY. The Manufacturers Life Insurance Company boosted its holdings in shares of Inozyme Pharma by 14.4% during the 2nd 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. Jane Street Group LLC lifted its position in Inozyme Pharma by 7.5% during the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock valued at $259,000 after acquiring an additional 3,443 shares during the period. American Century Companies Inc. lifted its position in Inozyme Pharma by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after acquiring an additional 5,673 shares during the period. OneDigital Investment Advisors LLC boosted its stake 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 acquiring an additional 6,800 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Inozyme Pharma in the second quarter worth about $52,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Inozyme Pharma Stock Down 6.1 %

Shares of Inozyme Pharma stock opened at $2.76 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. Inozyme Pharma has a 52-week low of $2.38 and a 52-week high of $7.80. The company’s 50 day moving average price is $3.79 and its 200-day moving average price is $4.61. The stock has a market capitalization of $177.30 million, a price-to-earnings ratio of -1.77 and a beta of 1.37.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Equities research analysts forecast that Inozyme Pharma will post -1.59 EPS for the current 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.