Inozyme Pharma, Inc. (NASDAQ:INZY) Receives Consensus Recommendation of “Buy” from Brokerages

Inozyme Pharma, Inc. (NASDAQ:INZY) has been given a consensus rating of “Buy” by the seven research firms that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $16.14.

A number of brokerages recently issued reports on INZY. Stifel Nicolaus began coverage on shares of Inozyme Pharma in a research report on Thursday, September 12th. They set a “buy” rating and a $16.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 target price (up from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Inozyme Pharma in a research note on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Inozyme Pharma in a research report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research note on Tuesday, August 6th.

Hedge Funds Weigh In On Inozyme Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C bought a new stake in shares of Inozyme Pharma in the 2nd quarter worth $52,000. Meeder Asset Management Inc. purchased a new position in Inozyme Pharma in the 2nd quarter worth about $68,000. Values First Advisors Inc. bought a new position in Inozyme Pharma during the 2nd quarter valued at about $76,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Inozyme Pharma during the 2nd quarter valued at about $84,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Inozyme Pharma by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after acquiring an additional 2,690 shares during the last quarter. 88.30% of the stock is owned by institutional investors.

Inozyme Pharma Stock Down 4.0 %

Shares of NASDAQ:INZY opened at $5.02 on Wednesday. The firm has a market capitalization of $310.52 million, a P/E ratio of -3.66 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 9.84 and a current ratio of 9.84. The stock has a 50 day moving average price of $5.25 and a 200-day moving average price of $5.12. Inozyme Pharma has a 52-week low of $2.69 and a 52-week high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). As a group, equities research analysts anticipate that Inozyme Pharma will post -1.68 EPS for the current fiscal year.

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.