Raymond James Issues Pessimistic Forecast for Inozyme Pharma (NASDAQ:INZY) Stock Price

Inozyme Pharma (NASDAQ:INZY) had its price objective decreased by equities research analysts at Raymond James from $24.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock.

A number of other equities analysts also recently weighed in on INZY. Wells Fargo & Company reduced their price target on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Inozyme Pharma in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $7.00 price target (down previously from $12.00) on shares of Inozyme Pharma in a research report on Monday. Piper Sandler cut their price objective on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Needham & Company LLC cut their price objective on Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inozyme Pharma presently has an average rating of “Buy” and an average target price of $14.56.

Inozyme Pharma Trading Down 7.4 %

NASDAQ:INZY opened at $1.00 on Wednesday. Inozyme Pharma has a twelve month low of $0.98 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 50 day moving average price of $1.48 and a two-hundred day moving average price of $3.26. The company has a market cap of $64.22 million, a P/E ratio of -0.64 and a beta of 1.32.

Institutional Investors Weigh In On Inozyme Pharma

Hedge funds have recently added to or reduced their stakes in the business. abrdn plc acquired a new stake in Inozyme Pharma during the 4th quarter valued at $472,000. Eventide Asset Management LLC lifted its holdings in Inozyme Pharma by 5.0% during the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock valued at $21,623,000 after purchasing an additional 198,216 shares during the last quarter. Barclays PLC lifted its holdings in Inozyme Pharma by 261.4% during the 3rd quarter. Barclays PLC now owns 76,730 shares of the company’s stock valued at $401,000 after purchasing an additional 55,497 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Inozyme Pharma by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock valued at $6,126,000 after purchasing an additional 19,499 shares during the last quarter. Finally, State Street Corp lifted its holdings in Inozyme Pharma by 5.0% during the 3rd quarter. State Street Corp now owns 1,050,420 shares of the company’s stock valued at $5,494,000 after purchasing an additional 50,386 shares during the last quarter. Institutional investors and hedge funds 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.