Inozyme Pharma (NASDAQ:INZY) Price Target Lowered to $15.00 at Needham & Company LLC

Inozyme Pharma (NASDAQ:INZY) had its target price decreased by Needham & Company LLC from $23.00 to $15.00 in a research report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages also recently commented on INZY. Raymond James initiated coverage on shares of Inozyme Pharma in a research note on Thursday, December 12th. They issued an “outperform” rating and a $26.00 target price for the company. Piper Sandler cut their price objective on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Wedbush reiterated an “outperform” rating and issued a $7.00 price objective (down from $12.00) on shares of Inozyme Pharma in a research report on Monday. HC Wainwright raised their target price on shares of Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company cut their price target on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $16.11.

Inozyme Pharma Price Performance

Shares of NASDAQ:INZY opened at $1.06 on Tuesday. Inozyme Pharma has a one year low of $0.98 and a one year high of $7.80. 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 stock has a market cap of $68.09 million, a price-to-earnings ratio of -0.68 and a beta of 1.32. The company has a 50 day moving average of $1.55 and a 200-day moving average of $3.30.

Hedge Funds Weigh In On Inozyme Pharma

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its position in shares of Inozyme Pharma by 7.5% in 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 last quarter. OneDigital Investment Advisors LLC raised its stake in Inozyme Pharma by 51.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $105,000 after acquiring an additional 6,800 shares during the period. JPMorgan Chase & Co. lifted its holdings in Inozyme Pharma by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after purchasing an additional 6,851 shares during the last quarter. Palumbo Wealth Management LLC boosted its position in Inozyme Pharma by 52.3% during the fourth quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock worth $64,000 after purchasing an additional 7,995 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Inozyme Pharma by 11.6% in the fourth quarter. American Century Companies Inc. now owns 79,349 shares of the company’s stock valued at $220,000 after purchasing an additional 8,263 shares during the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

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.