FY2024 EPS Estimates for Inozyme Pharma Raised by Analyst

Inozyme Pharma, Inc. (NASDAQ:INZY - Free Report) - Equities researchers at Wedbush upped their FY2024 earnings estimates for Inozyme Pharma in a research report issued on Tuesday, November 5th. Wedbush analyst D. Nierengarten now expects that the company will post earnings per share of ($1.65) for the year, up from their prior estimate of ($1.73). Wedbush currently has a "Outperform" rating and a $12.00 price objective on the stock. The consensus estimate for Inozyme Pharma's current full-year earnings is ($1.68) per share. Wedbush also issued estimates for Inozyme Pharma's Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at ($0.34) EPS, FY2025 earnings at ($1.45) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($0.81) EPS.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05.

A number of other research analysts have also recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $14.00 target price on shares of Inozyme Pharma in a research note on Wednesday. Jefferies Financial Group restated a "buy" rating and set a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. Stifel Nicolaus started coverage on shares of Inozyme Pharma in a research note on Thursday, September 12th. They set a "buy" rating and a $16.00 target price on the stock. Finally, Needham & Company LLC restated a "buy" rating and set a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $15.71.

Inozyme Pharma Price Performance

Shares of INZY traded down $0.13 during trading hours on Thursday, reaching $4.10. 517,110 shares of the stock traded hands, compared to its average volume of 418,650. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48. Inozyme Pharma has a 52-week low of $2.71 and a 52-week high of $7.80. The company's 50-day moving average price is $5.13 and its two-hundred day moving average price is $4.92. The company has a market cap of $257.19 million, a P/E ratio of -2.81 and a beta of 1.54.

Hedge Funds Weigh In On Inozyme Pharma

Several hedge funds have recently added to or reduced their stakes in INZY. Values First Advisors Inc. purchased a new stake in Inozyme Pharma in the 2nd quarter valued at about $76,000. Samlyn Capital LLC boosted its position 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 buying an additional 437,622 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Inozyme Pharma by 14.4% in 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 lifted its position in shares of Inozyme Pharma by 8.1% in the 2nd quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company's stock worth $12,739,000 after purchasing an additional 213,733 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Inozyme Pharma by 117.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company's stock worth $1,695,000 after purchasing an additional 205,417 shares during the period. 88.30% of the stock is currently owned by institutional investors.

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.