Inozyme Pharma (NASDAQ:INZY) Price Target Raised to $16.00

Inozyme Pharma (NASDAQ:INZY) had its price target hoisted by stock analysts at HC Wainwright from $14.00 to $16.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Other equities analysts also recently issued research reports about the stock. Raymond James started coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective on the stock. Stifel Nicolaus began coverage on Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a report on Wednesday, November 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $12.00 target price (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday, November 5th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inozyme Pharma currently has a consensus rating of “Buy” and a consensus price target of $17.25.

Inozyme Pharma Stock Down 25.0 %

Shares of NASDAQ INZY traded down $0.70 during mid-day trading on Friday, reaching $2.10. 1,405,871 shares of the company were exchanged, compared to its average volume of 676,506. The firm has a 50-day moving average of $3.07 and a 200 day moving average of $4.40. Inozyme Pharma has a 1 year low of $2.00 and a 1 year high of $7.80. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $134.90 million, a price-to-earnings ratio of -1.35 and a beta of 1.35.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. On average, research analysts expect that Inozyme Pharma will post -1.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INZY. Eventide Asset Management LLC increased its position 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 worth $21,623,000 after purchasing an additional 198,216 shares during the last quarter. Samlyn Capital LLC grew its stake in shares of Inozyme Pharma by 15.0% in the 2nd quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after buying an additional 437,622 shares during the period. Affinity Asset Advisors LLC increased its holdings in shares of Inozyme Pharma by 8.1% during the 2nd quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company’s stock worth $12,739,000 after buying an additional 213,733 shares during the last quarter. Millennium Management LLC lifted 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 lifted 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. Hedge funds and other 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.