Inozyme Pharma (NASDAQ:INZY) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research report sent to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a $23.00 price target on the stock.

Other research analysts have also issued reports about the stock. Jefferies Financial Group reissued a “buy” rating and set a $17.00 price target (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Inozyme Pharma in a report on Wednesday. Stifel Nicolaus began coverage on Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.71.

Inozyme Pharma Stock Performance

INZY traded down $0.08 during trading on Wednesday, hitting $4.02. 322,995 shares of the company’s stock were exchanged, compared to its average volume of 270,187. Inozyme Pharma has a fifty-two week low of $2.71 and a fifty-two week high of $7.80. The business’s 50 day moving average is $5.10 and its two-hundred day moving average is $4.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 9.84 and a current ratio of 7.68.

Inozyme Pharma (NASDAQ:INZY) last posted its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. As a group, analysts predict that Inozyme Pharma will post -1.67 EPS for the current year.

Institutional Trading of Inozyme Pharma

Several hedge funds and other institutional investors have recently modified their holdings of INZY. Vanguard Group Inc. grew its position in shares of Inozyme Pharma by 1.4% in the first quarter. Vanguard Group Inc. now owns 2,419,020 shares of the company’s stock valued at $18,530,000 after purchasing an additional 33,998 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in Inozyme Pharma by 40.1% in the 1st quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock worth $20,242,000 after purchasing an additional 756,717 shares during the period. Kennedy Capital Management LLC grew its holdings in Inozyme Pharma by 52.2% during the 1st quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock valued at $3,352,000 after buying an additional 150,120 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Inozyme Pharma during the second quarter valued at about $76,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Inozyme Pharma by 16.1% in the second quarter. Bank of New York Mellon Corp now owns 190,896 shares of the company’s stock worth $851,000 after buying an additional 26,464 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

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.