Brokerages Set Inozyme Pharma, Inc. (NASDAQ:INZY) Price Target at $17.00

Inozyme Pharma, Inc. (NASDAQ:INZY) has been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.00.

A number of equities research analysts have weighed in on the company. Raymond James initiated coverage on Inozyme Pharma in a research note on Thursday, December 12th. They issued an “outperform” rating and a $26.00 price objective for the company. Stifel Nicolaus began coverage on shares of Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Finally, Wedbush reiterated an “outperform” rating and set a $12.00 target price (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday, November 5th.

Inozyme Pharma Price Performance

Shares of INZY opened at $2.99 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. Inozyme Pharma has a 1-year low of $2.38 and a 1-year high of $7.80. The stock has a market cap of $192.08 million, a PE ratio of -1.92 and a beta of 1.37. The firm has a fifty day moving average price of $3.65 and a 200 day moving average price of $4.57.

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

Hedge Funds Weigh In On Inozyme Pharma

A number of large investors have recently bought and sold shares of the company. Eventide Asset Management LLC increased its stake in shares of Inozyme Pharma by 5.0% during the third quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock worth $21,623,000 after acquiring an additional 198,216 shares during the period. Samlyn Capital LLC boosted its holdings in Inozyme Pharma by 15.0% in the 2nd quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after purchasing an additional 437,622 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Inozyme Pharma by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after purchasing an additional 2,690 shares during the period. Affinity Asset Advisors LLC raised its stake in shares of Inozyme Pharma by 8.1% during the 2nd quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company’s stock worth $12,739,000 after buying an additional 213,733 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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 buying an additional 205,417 shares in the last quarter. Hedge funds and other institutional investors 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.