Raymond James Initiates Coverage on Inozyme Pharma (NASDAQ:INZY)

Raymond James began coverage on shares of Inozyme Pharma (NASDAQ:INZY) in a report published on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $26.00 target price on the stock.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus assumed coverage on Inozyme Pharma in a research report on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective for the company. Wedbush restated an “outperform” rating and set a $12.00 price target (down from $15.00) on shares of Inozyme Pharma in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Inozyme Pharma presently has an average rating of “Buy” and a consensus price target of $17.00.

Inozyme Pharma Stock Performance

Shares of INZY opened at $3.03 on Thursday. The company has a 50-day moving average of $3.88 and a two-hundred day moving average of $4.63. The stock has a market cap of $194.65 million, a price-to-earnings ratio of -1.94 and a beta of 1.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. Inozyme Pharma has a one year low of $2.38 and a one year high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. On average, equities research analysts expect that Inozyme Pharma will post -1.59 earnings per share for the current year.

Institutional Trading of Inozyme Pharma

A number of institutional investors have recently added to or reduced their stakes in INZY. Virtu Financial LLC acquired a new position in shares of Inozyme Pharma during the 3rd quarter worth $64,000. Barclays PLC lifted its stake in shares of Inozyme Pharma by 261.4% in the 3rd quarter. Barclays PLC now owns 76,730 shares of the company’s stock valued at $401,000 after purchasing an additional 55,497 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Inozyme Pharma by 1.7% in 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 in the last quarter. Jane Street Group LLC increased its position in Inozyme Pharma by 7.5% during the third quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after buying an additional 3,443 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Inozyme Pharma by 11.9% during the third quarter. Wellington Management Group LLP now owns 260,719 shares of the company’s stock valued at $1,364,000 after buying an additional 27,739 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

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.