Inozyme Pharma (NASDAQ:INZY) Price Target Lowered to $15.00 at Needham & Company LLC

Inozyme Pharma (NASDAQ:INZY) had its price target trimmed by Needham & Company LLC from $23.00 to $15.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently commented on INZY. Raymond James began coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price on the stock. Wedbush restated an “outperform” rating and set a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a research note on Monday. Piper Sandler cut their target price on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company dropped their price target on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, HC Wainwright increased their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $16.11.

Inozyme Pharma Price Performance

NASDAQ:INZY opened at $1.06 on Tuesday. Inozyme Pharma has a 52 week low of $0.98 and a 52 week high of $7.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. The firm’s 50-day simple moving average is $1.55 and its 200 day simple moving average is $3.30. The firm has a market cap of $68.09 million, a price-to-earnings ratio of -0.68 and a beta of 1.32.

Institutional Trading of Inozyme Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harvest Investment Services LLC bought a new stake in shares of Inozyme Pharma during the 4th quarter valued at about $31,000. Graham Capital Management L.P. bought a new stake in shares of Inozyme Pharma in the 4th quarter worth $33,000. Virtu Financial LLC purchased a new stake in shares of Inozyme Pharma during the third quarter valued at approximately $64,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Inozyme Pharma during the 4th quarter worth approximately $38,000. Finally, ProShare Advisors LLC purchased a new position in shares of Inozyme Pharma in the fourth quarter worth about $49,000. 88.30% of the stock is currently owned by 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.