Inozyme Pharma, Inc. (NASDAQ:INZY) Given Consensus Recommendation of “Buy” by Analysts

Inozyme Pharma, Inc. (NASDAQ:INZY) has been given an average recommendation of “Buy” by the nine research firms that are presently covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.33.

A number of equities analysts have recently commented on the stock. Raymond James initiated coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price on the stock. Wells Fargo & Company reduced their price objective on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Piper Sandler reduced their price target on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, HC Wainwright increased their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, January 10th.

Inozyme Pharma Trading Down 3.4 %

NASDAQ INZY opened at $1.40 on Tuesday. The firm has a market capitalization of $89.94 million, a price-to-earnings ratio of -0.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. Inozyme Pharma has a one year low of $1.24 and a one year high of $7.80. The company’s 50 day moving average price is $2.26 and its 200 day moving average price is $3.88.

Hedge Funds Weigh In On Inozyme Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. acquired a new stake in Inozyme Pharma in the fourth quarter valued at $38,000. Virtu Financial LLC bought a new stake in shares of Inozyme Pharma in the 3rd quarter worth about $64,000. Palumbo Wealth Management LLC raised its stake in shares of Inozyme Pharma by 52.3% in the 4th quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock valued at $64,000 after purchasing an additional 7,995 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Inozyme Pharma during the third quarter worth about $81,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Inozyme Pharma in the second quarter worth about $84,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

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.