Inozyme Pharma, Inc. (NASDAQ:INZY) Given Consensus Recommendation of “Buy” by Brokerages

Inozyme Pharma, Inc. (NASDAQ:INZY) has been given an average recommendation of “Buy” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $15.71.

INZY has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and set a $12.00 price objective (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday, November 5th. Stifel Nicolaus started coverage on Inozyme Pharma in a research report on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th.

Inozyme Pharma Stock Performance

Shares of NASDAQ:INZY opened at $2.72 on Thursday. 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 business’s 50 day moving average price is $4.53 and its 200-day moving average price is $4.80. The firm has a market capitalization of $174.73 million, a PE ratio of -1.72 and a beta of 1.54. Inozyme Pharma has a 1 year low of $2.56 and a 1 year high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. As a group, equities research analysts expect that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

Several institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Inozyme Pharma in the 3rd quarter valued at $64,000. Barclays PLC raised its holdings in shares of Inozyme Pharma by 261.4% in the 3rd quarter. Barclays PLC now owns 76,730 shares of the company’s stock valued at $401,000 after buying an additional 55,497 shares during the period. Geode Capital Management LLC raised its holdings in shares of Inozyme Pharma by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock valued at $6,126,000 after buying an additional 19,499 shares during the period. Jane Street Group LLC raised its holdings in shares of Inozyme Pharma by 7.5% in the 3rd 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. Finally, Wellington Management Group LLP raised its holdings in shares of Inozyme Pharma by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 260,719 shares of the company’s stock valued at $1,364,000 after buying an additional 27,739 shares during the period. Hedge funds and other institutional investors 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.