Inozyme Pharma (NASDAQ:INZY) Coverage Initiated at Raymond James

Stock analysts at Raymond James initiated coverage on shares of Inozyme Pharma (NASDAQ:INZY) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $26.00 price target on the stock.

A number of other analysts also recently commented on INZY. Stifel Nicolaus assumed coverage on Inozyme Pharma in a research report on Thursday, September 12th. They set a “buy” rating and a $16.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Wedbush restated an “outperform” rating and set a $12.00 target price (down from $15.00) on shares of Inozyme Pharma in a report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Inozyme Pharma in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.00.

Inozyme Pharma Stock Performance

Shares of INZY opened at $3.03 on Thursday. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a 52-week low of $2.38 and a 52-week high of $7.80. The company has a 50-day simple moving average of $3.88 and a 200-day simple moving average of $4.63. The company has a market capitalization of $194.65 million, a PE ratio of -1.94 and a beta of 1.37.

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

Institutional Investors Weigh In On Inozyme Pharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Deerfield Management Company L.P. Series C purchased a new position in shares of Inozyme Pharma during the second quarter valued at approximately $52,000. Virtu Financial LLC purchased a new position in shares of Inozyme Pharma during the 3rd quarter worth $64,000. Meeder Asset Management Inc. acquired a new stake in shares of Inozyme Pharma during the second quarter worth $68,000. Values First Advisors Inc. purchased a new stake in shares of Inozyme Pharma in the second quarter valued at $76,000. Finally, SG Americas Securities LLC acquired a new position in Inozyme Pharma in the third quarter valued at $81,000. 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.