Piper Sandler Cuts Inozyme Pharma (NASDAQ:INZY) Price Target to $30.00

Inozyme Pharma (NASDAQ:INZY) had its price objective trimmed by Piper Sandler from $43.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on INZY. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th. HC Wainwright increased their price objective on Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Raymond James began coverage on Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $12.00 target price on shares of Inozyme Pharma in a report on Friday, January 10th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.33.

Inozyme Pharma Stock Performance

Shares of NASDAQ INZY opened at $1.38 on Monday. The business has a fifty day simple moving average of $2.86 and a 200 day simple moving average of $4.32. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $88.65 million, a price-to-earnings ratio of -0.88 and a beta of 1.35. Inozyme Pharma has a one year low of $1.38 and a one year high of $7.80.

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

Hedge Funds Weigh In On Inozyme Pharma

Several hedge funds have recently added to or reduced their stakes in the company. Eventide Asset Management LLC boosted its holdings in Inozyme Pharma by 5.0% in the third quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock valued at $21,623,000 after acquiring an additional 198,216 shares during the last quarter. Samlyn Capital LLC boosted its holdings in Inozyme Pharma by 15.0% in the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after acquiring an additional 437,622 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in Inozyme Pharma by 8.1% in the second quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company’s stock valued at $12,739,000 after acquiring an additional 213,733 shares during the last quarter. Millennium Management LLC boosted its holdings in Inozyme Pharma by 154.1% in the second quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock valued at $7,974,000 after acquiring an additional 1,084,341 shares during the last quarter. Finally, 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 valued at $6,126,000 after acquiring an additional 19,499 shares during the last quarter. 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.