HC Wainwright Reaffirms “Buy” Rating for Inozyme Pharma (NASDAQ:INZY)

HC Wainwright reiterated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a report published on Wednesday, Benzinga reports. HC Wainwright currently has a $14.00 price target on the stock.

A number of other research analysts have also commented on INZY. Wedbush reiterated an “outperform” rating and set a $12.00 price objective (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. Stifel Nicolaus began coverage on shares of Inozyme Pharma in a research note on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective on the stock. 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 Friday, October 25th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Inozyme Pharma has an average rating of “Buy” and an average target price of $15.71.

Inozyme Pharma Stock Performance

Shares of NASDAQ:INZY traded up $0.07 during trading hours on Wednesday, hitting $4.30. The stock had a trading volume of 27,968 shares, compared to its average volume of 416,387. The stock’s fifty day simple moving average is $5.15 and its 200 day simple moving average is $4.93. Inozyme Pharma has a 1-year low of $2.71 and a 1-year high of $7.80. The firm has a market capitalization of $269.74 million, a price-to-earnings ratio of -2.90 and a beta of 1.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 9.84 and a current ratio of 9.84.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. Sell-side analysts anticipate that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inozyme Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in Inozyme Pharma by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after purchasing an additional 2,690 shares in the last quarter. American Century Companies Inc. grew its position in Inozyme Pharma by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock worth $255,000 after purchasing an additional 5,673 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in Inozyme Pharma by 51.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $105,000 after purchasing an additional 6,800 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Inozyme Pharma during the 2nd quarter valued at $52,000. Finally, Rhumbline Advisers grew its holdings in shares of Inozyme Pharma by 22.0% during the 2nd quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock valued at $343,000 after acquiring an additional 13,867 shares in the last quarter. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Inozyme Pharma Company Profile

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.