Piper Sandler Cuts Inozyme Pharma (NASDAQ:INZY) Price Target to $30.00

Inozyme Pharma (NASDAQ:INZY) had its target price decreased by Piper Sandler from $43.00 to $30.00 in a research note published on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other analysts also recently issued reports on INZY. Raymond James initiated coverage on Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective on the stock. HC Wainwright boosted their price objective on Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Wedbush restated an “outperform” rating and set a $12.00 price objective on shares of Inozyme Pharma in a report on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.33.

Inozyme Pharma Price Performance

Shares of NASDAQ INZY opened at $1.38 on Monday. 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 firm’s 50-day simple moving average is $2.86 and its 200 day simple moving average is $4.32. Inozyme Pharma has a fifty-two week low of $1.38 and a fifty-two week high of $7.80. The stock has a market cap of $88.65 million, a P/E ratio of -0.88 and a beta of 1.35.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. Equities analysts expect that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INZY. Bank of New York Mellon Corp lifted its holdings in shares of Inozyme Pharma by 16.1% during the second quarter. Bank of New York Mellon Corp now owns 190,896 shares of the company’s stock worth $851,000 after buying an additional 26,464 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Inozyme Pharma by 22.0% during the second quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock worth $343,000 after buying an additional 13,867 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Inozyme Pharma by 11.0% in the second quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after purchasing an additional 5,673 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Inozyme Pharma by 117.6% in the second quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock valued at $1,695,000 after purchasing an additional 205,417 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Inozyme Pharma by 8.1% in the second quarter. Renaissance Technologies LLC now owns 187,839 shares of the company’s stock valued at $838,000 after purchasing an additional 14,139 shares in the last quarter. 88.30% of the stock is currently owned by institutional investors and hedge funds.

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.