Inozyme Pharma, Inc. (NASDAQ:INZY) Given Average Rating of “Buy” by Brokerages

Inozyme Pharma, Inc. (NASDAQ:INZY) has earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $17.00.

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

Inozyme Pharma Price Performance

NASDAQ:INZY opened at $2.80 on Friday. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a 52 week low of $2.38 and a 52 week high of $7.80. The stock’s 50-day moving average price is $3.09 and its 200-day moving average price is $4.41. The stock has a market capitalization of $179.87 million, a PE ratio of -1.79 and a beta of 1.35.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. As a group, equities analysts expect that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C acquired a new stake in shares of Inozyme Pharma in the second quarter valued at $52,000. Virtu Financial LLC acquired a new stake in Inozyme Pharma during the 3rd quarter worth approximately $64,000. Meeder Asset Management Inc. purchased a new position in Inozyme Pharma in the 2nd quarter valued at approximately $68,000. SG Americas Securities LLC acquired a new position in shares of Inozyme Pharma in the third quarter worth $81,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Inozyme Pharma during the second quarter worth $84,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

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.