Inozyme Pharma (NASDAQ:INZY) Price Target Cut to $12.00 by Analysts at Raymond James

Inozyme Pharma (NASDAQ:INZY) had its target price reduced by equities researchers at Raymond James from $24.00 to $12.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock.

Other analysts have also issued research reports about the company. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Inozyme Pharma in a research note on Tuesday. Wells Fargo & Company cut their price target on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Piper Sandler lowered their price objective on shares of Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday. Wedbush reissued an “outperform” rating and issued a $7.00 target price (down from $12.00) on shares of Inozyme Pharma in a research note on Monday. Finally, Needham & Company LLC lowered their price target on Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $14.56.

Inozyme Pharma Trading Down 1.4 %

NASDAQ INZY traded down $0.02 during trading on Wednesday, hitting $1.05. 300,391 shares of the company’s stock traded hands, compared to its average volume of 507,162. The firm has a market cap of $67.13 million, a P/E ratio of -0.67 and a beta of 1.32. The stock has a fifty day moving average of $1.55 and a two-hundred day moving average of $3.30. 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 12-month low of $0.98 and a 12-month high of $7.80.

Institutional Investors Weigh In On Inozyme Pharma

Several large investors have recently bought and sold shares of the business. Affinity Asset Advisors LLC increased its position in Inozyme Pharma by 40.7% during the fourth quarter. Affinity Asset Advisors LLC now owns 3,972,318 shares of the company’s stock valued at $11,003,000 after acquiring an additional 1,150,000 shares during the last quarter. Sanofi bought a new position in Inozyme Pharma in the 4th quarter worth $1,228,000. Renaissance Technologies LLC lifted its position in shares of Inozyme Pharma by 155.7% during the 4th quarter. Renaissance Technologies LLC now owns 421,399 shares of the company’s stock valued at $1,167,000 after buying an additional 256,599 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Inozyme Pharma in the fourth quarter worth $658,000. Finally, Eventide Asset Management LLC raised its holdings in Inozyme Pharma by 5.0% during 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 period. 88.30% of the stock is currently owned by 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.