Wedbush Reiterates “Outperform” Rating for Inozyme Pharma (NASDAQ:INZY)

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a report released on Monday, Benzinga reports. They presently have a $15.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 189.58% from the company’s previous close.

Several other research firms have also issued reports on INZY. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Inozyme Pharma in a research report on Thursday, August 8th. Stifel Nicolaus assumed coverage on Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $17.00 price target (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $16.14.

Inozyme Pharma Trading Up 0.8 %

Shares of INZY stock opened at $5.18 on Monday. The stock has a 50-day simple moving average of $5.26 and a 200 day simple moving average of $5.13. The stock has a market capitalization of $320.41 million, a P/E ratio of -3.78 and a beta of 1.52. Inozyme Pharma has a fifty-two week low of $2.69 and a fifty-two week high of $7.80. The company has a quick ratio of 9.84, a current ratio of 9.84 and a debt-to-equity ratio of 0.48.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). On average, sell-side analysts expect that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Inozyme Pharma

Hedge funds and other institutional investors have recently modified their holdings of the business. Samlyn Capital LLC raised its position in Inozyme Pharma by 15.0% during the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after buying an additional 437,622 shares during the period. Eventide Asset Management LLC increased its holdings in shares of Inozyme Pharma by 1.8% in the 4th quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock valued at $13,546,000 after purchasing an additional 54,837 shares during the period. Affinity Asset Advisors LLC lifted its position in shares of Inozyme Pharma by 8.1% in 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Inozyme Pharma by 1.4% during the first quarter. Vanguard Group Inc. now owns 2,419,020 shares of the company’s stock worth $18,530,000 after purchasing an additional 33,998 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of 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 period. Institutional investors and hedge funds 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.