Inozyme Pharma FY2024 EPS Forecast Raised by HC Wainwright

Inozyme Pharma, Inc. (NASDAQ:INZY - Free Report) - Equities research analysts at HC Wainwright lifted their FY2024 earnings per share estimates for shares of Inozyme Pharma in a research report issued on Wednesday, November 6th. HC Wainwright analyst E. White now anticipates that the company will post earnings per share of ($1.62) for the year, up from their prior forecast of ($1.77). HC Wainwright has a "Buy" rating and a $14.00 price objective on the stock. The consensus estimate for Inozyme Pharma's current full-year earnings is ($1.68) per share. HC Wainwright also issued estimates for Inozyme Pharma's Q4 2024 earnings at ($0.42) EPS, FY2025 earnings at ($1.74) EPS and FY2026 earnings at ($1.89) EPS.

Several other equities analysts have also recently commented on the company. Stifel Nicolaus began coverage on Inozyme Pharma in a report on Thursday, September 12th. They issued a "buy" rating and a $16.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday. Jefferies Financial Group reiterated a "buy" rating and set a $17.00 price target (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. Finally, Wedbush restated an "outperform" rating and issued a $12.00 price objective (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $15.71.

Inozyme Pharma Stock Performance

Shares of INZY traded down $0.08 during trading hours on Friday, reaching $4.02. 322,995 shares of the company traded hands, compared to its average volume of 418,205. The company has a debt-to-equity ratio of 0.48, a quick ratio of 9.84 and a current ratio of 9.84. The stock's fifty day moving average is $5.13 and its 200 day moving average is $4.92. Inozyme Pharma has a 1-year low of $2.71 and a 1-year high of $7.80. The stock has a market cap of $252.17 million, a P/E ratio of -2.81 and a beta of 1.54.

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

Institutional Investors Weigh In On Inozyme Pharma

A number of hedge funds have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C acquired a new stake in shares of Inozyme Pharma during the second quarter worth approximately $52,000. Meeder Asset Management Inc. acquired a new stake in shares of Inozyme Pharma in the second quarter valued at $68,000. Values First Advisors Inc. bought a new position in shares of Inozyme Pharma in the second quarter valued at about $76,000. SG Americas Securities LLC acquired a new position in Inozyme Pharma during the 3rd quarter worth about $81,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Inozyme Pharma in the 2nd quarter valued at about $84,000. Institutional investors and hedge funds 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.