HC Wainwright Reaffirms Buy Rating for Inozyme Pharma (NASDAQ:INZY)

Inozyme Pharma (NASDAQ:INZY - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $16.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Raymond James began coverage on Inozyme Pharma in a research report on Thursday, December 12th. They set an "outperform" rating and a $26.00 price target on the stock. Piper Sandler dropped their price target on Inozyme Pharma from $43.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Wedbush reissued an "outperform" rating and issued a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a research note on Monday. Finally, Needham & Company LLC cut their price target on Inozyme Pharma from $23.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $16.89.

Inozyme Pharma Stock Down 7.8 %

INZY opened at $1.06 on Tuesday. The firm has a market cap of $68.09 million, a price-to-earnings ratio of -0.68 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. The firm's 50-day simple moving average is $1.59 and its 200-day simple moving average is $3.33. Inozyme Pharma has a twelve month low of $1.04 and a twelve month high of $7.80.

Hedge Funds Weigh In On Inozyme Pharma

Large investors have recently made changes to their positions in the company. Harvest Investment Services LLC acquired a new position in Inozyme Pharma during the 4th quarter valued at about $31,000. Graham Capital Management L.P. bought a new stake in shares of Inozyme Pharma during the fourth quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. acquired a new position in Inozyme Pharma in the fourth quarter valued at approximately $38,000. D. E. Shaw & Co. Inc. bought a new position in Inozyme Pharma in the fourth quarter valued at approximately $49,000. Finally, ProShare Advisors LLC bought a new position in Inozyme Pharma in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds 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.

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