Wells Fargo & Company Cuts Inozyme Pharma (NASDAQ:INZY) Price Target to $11.00

Inozyme Pharma (NASDAQ:INZY) had its price target reduced by Wells Fargo & Company from $14.00 to $11.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

INZY has been the topic of a number of other research reports. Piper Sandler dropped their price target on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday. Wedbush reissued an “outperform” rating and set a $12.00 target price on shares of Inozyme Pharma in a research note on Friday. Raymond James initiated coverage on shares of 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 reiterated a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Finally, HC Wainwright raised their target price on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inozyme Pharma has a consensus rating of “Buy” and a consensus target price of $18.33.

Inozyme Pharma Trading Down 13.8 %

INZY stock opened at $1.72 on Monday. Inozyme Pharma has a 52-week low of $1.61 and a 52-week high of $7.80. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The firm has a market cap of $110.49 million, a P/E ratio of -1.10 and a beta of 1.35. The company’s 50-day simple moving average is $2.96 and its 200-day simple moving average is $4.36.

Inozyme Pharma (NASDAQ:INZY) last issued 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. As a group, equities analysts forecast that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Eventide Asset Management LLC grew its holdings in Inozyme Pharma by 5.0% in the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock valued at $21,623,000 after buying an additional 198,216 shares in the last quarter. Samlyn Capital LLC grew its holdings in shares of Inozyme Pharma by 15.0% in the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after purchasing an additional 437,622 shares during the period. Affinity Asset Advisors LLC increased its position in Inozyme Pharma by 8.1% during the second quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company’s stock worth $12,739,000 after purchasing an additional 213,733 shares during the last quarter. Millennium Management LLC increased its position in Inozyme Pharma by 154.1% during the second quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock worth $7,974,000 after purchasing an additional 1,084,341 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Inozyme Pharma by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock worth $6,126,000 after purchasing an additional 19,499 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.