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

Inozyme Pharma, Inc. (NASDAQ:INZY) has earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $17.00.

Several analysts recently issued reports on INZY shares. Wedbush reissued an “outperform” rating and issued a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Stifel Nicolaus began coverage on shares of Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Finally, Raymond James started coverage on Inozyme Pharma in a research note on Thursday. They issued an “outperform” rating and a $26.00 price objective for the company.

Inozyme Pharma Trading Up 1.7 %

NASDAQ:INZY opened at $3.03 on Monday. Inozyme Pharma has a 12 month low of $2.38 and a 12 month high of $7.80. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $194.65 million, a price-to-earnings ratio of -1.94 and a beta of 1.37. The firm has a fifty day simple moving average of $3.88 and a two-hundred day simple moving average of $4.64.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly 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. Analysts expect that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Inozyme Pharma by 16.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 190,896 shares of the company’s stock valued at $851,000 after acquiring an additional 26,464 shares during the period. Rhumbline Advisers boosted its stake in Inozyme Pharma by 22.0% in the 2nd quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock worth $343,000 after purchasing an additional 13,867 shares in the last quarter. American Century Companies Inc. grew its position in Inozyme Pharma by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after purchasing an additional 5,673 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Inozyme Pharma during the 2nd quarter valued at about $68,000. Finally, Dimensional Fund Advisors LP raised its holdings in Inozyme Pharma by 117.6% in the second quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock worth $1,695,000 after buying an additional 205,417 shares during the last quarter. Hedge funds and other 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.