Inozyme Pharma, Inc. (NASDAQ:INZY) Receives Consensus Rating of “Buy” from Brokerages

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have been given an average recommendation of “Buy” by the seven analysts that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.14.

A number of equities analysts recently commented on the stock. Stifel Nicolaus initiated coverage on shares of Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $15.00 price objective on shares of Inozyme Pharma in a report on Monday. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th.

Institutional Investors Weigh In On Inozyme Pharma

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in shares of Inozyme Pharma during the second quarter valued at approximately $84,000. The Manufacturers Life Insurance Company boosted its holdings in Inozyme Pharma by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after acquiring an additional 2,690 shares in the last quarter. Millennium Management LLC increased its position in Inozyme Pharma by 154.1% during the 2nd quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock valued at $7,974,000 after purchasing an additional 1,084,341 shares during the period. Deerfield Management Company L.P. Series C bought a new position in Inozyme Pharma in the 2nd quarter worth $52,000. Finally, Affinity Asset Advisors LLC lifted its position in shares of Inozyme Pharma by 8.1% in the 2nd quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company’s stock worth $12,739,000 after purchasing an additional 213,733 shares during the period. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Inozyme Pharma Price Performance

INZY opened at $5.02 on Wednesday. The stock has a market capitalization of $310.52 million, a P/E ratio of -3.66 and a beta of 1.52. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48. Inozyme Pharma has a 12-month low of $2.69 and a 12-month high of $7.80. The stock has a 50-day moving average price of $5.25 and a 200-day moving average price of $5.12.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Equities analysts predict that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

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.