Brokerages Set Inozyme Pharma, Inc. (NASDAQ:INZY) Target Price at $14.56

Inozyme Pharma, Inc. (NASDAQ:INZY) has earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is $14.56.

A number of equities research analysts have commented on the stock. Raymond James dropped their price objective on shares of Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler cut their price target on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Needham & Company LLC dropped their price objective on Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Wells Fargo & Company cut their target price on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $7.00 price target (down from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th.

Inozyme Pharma Price Performance

INZY stock opened at $0.92 on Wednesday. The business’s 50-day moving average is $1.22 and its two-hundred day moving average is $2.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. The firm has a market capitalization of $59.10 million, a P/E ratio of -0.59 and a beta of 1.32. Inozyme Pharma has a 1 year low of $0.91 and a 1 year high of $7.80.

Hedge Funds Weigh In On Inozyme Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Investment Services LLC purchased a new stake in Inozyme Pharma during the 4th quarter valued at approximately $31,000. Graham Capital Management L.P. acquired a new position in shares of Inozyme Pharma in the fourth quarter valued at approximately $33,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Inozyme Pharma during the fourth quarter worth approximately $38,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Inozyme Pharma during the fourth quarter worth $49,000. Finally, ProShare Advisors LLC purchased a new position in Inozyme Pharma in the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

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.