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

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have been given an average rating of “Buy” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $15.71.

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and issued a $17.00 price target (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Stifel Nicolaus started coverage on shares of Inozyme Pharma in a 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 set a $12.00 price target (down from $15.00) on shares of Inozyme Pharma in a report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday, November 6th.

Institutional Trading of Inozyme Pharma

Several hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in shares of Inozyme Pharma by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after acquiring an additional 2,690 shares in the last quarter. Jane Street Group LLC lifted its position in Inozyme Pharma by 7.5% during the third quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock valued at $259,000 after buying an additional 3,443 shares during the period. American Century Companies Inc. boosted its holdings in shares of 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 buying an additional 5,673 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Inozyme Pharma by 51.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $105,000 after buying an additional 6,800 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Inozyme Pharma in the 2nd quarter worth about $52,000. 88.30% of the stock is owned by institutional investors.

Inozyme Pharma Price Performance

Shares of INZY stock opened at $2.79 on Thursday. Inozyme Pharma has a twelve month low of $2.69 and a twelve month 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 business has a fifty day simple moving average of $4.83 and a 200 day simple moving average of $4.87. The company has a market cap of $179.23 million, a P/E ratio of -1.79 and a beta of 1.54.

Inozyme Pharma (NASDAQ:INZY) last issued its 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, sell-side analysts forecast that Inozyme Pharma will post -1.61 EPS 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.