Wedbush Reaffirms “Outperform” Rating for Inozyme Pharma (NASDAQ:INZY)

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued on Friday,RTT News reports. They presently have a $12.00 price objective on the stock.

INZY has been the subject of several other research reports. Raymond James initiated coverage on Inozyme Pharma in a research note on Thursday, December 12th. They set an “outperform” rating and a $26.00 price target for the company. Stifel Nicolaus started coverage on shares of Inozyme Pharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $16.00 price objective for the company. HC Wainwright upped their price target on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective 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 currently has an average rating of “Buy” and a consensus price target of $17.25.

Inozyme Pharma Stock Down 28.6 %

Shares of Inozyme Pharma stock opened at $2.00 on Friday. Inozyme Pharma has a 1-year low of $1.97 and a 1-year high of $7.80. The company has a market capitalization of $128.48 million, a PE ratio of -1.28 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. The business has a 50-day moving average of $3.02 and a 200-day moving average of $4.38.

Inozyme Pharma (NASDAQ:INZY) last announced its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.05. As a group, equities analysts forecast that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Inozyme Pharma by 16.1% during the second quarter. Bank of New York Mellon Corp now owns 190,896 shares of the company’s stock worth $851,000 after acquiring an additional 26,464 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Inozyme Pharma by 22.0% during the 2nd quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock valued at $343,000 after purchasing an additional 13,867 shares in the last quarter. American Century Companies Inc. grew its position in shares of Inozyme Pharma by 11.0% in 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 period. Meeder Asset Management Inc. acquired a new position in shares of Inozyme Pharma in the 2nd quarter valued at approximately $68,000. Finally, Dimensional Fund Advisors LP increased its stake in Inozyme Pharma by 117.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock worth $1,695,000 after purchasing an additional 205,417 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

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.