Inozyme Pharma, Inc. (NASDAQ:INZY) Given Average Recommendation of "Buy" by Brokerages

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY - Get Free Report) have been given a consensus recommendation of "Buy" by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $17.00.

Several equities research analysts have issued reports on the stock. Raymond James began coverage on shares of Inozyme Pharma in a research note on Thursday. They set an "outperform" rating and a $26.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $14.00 price target on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Wedbush reissued an "outperform" rating and issued a $12.00 price objective (down from $15.00) on shares of Inozyme Pharma in a report on Tuesday, November 5th. Stifel Nicolaus initiated coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They set a "buy" rating and a $16.00 target price on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $23.00 price target on shares of Inozyme Pharma in a research report on Wednesday, November 6th.

Inozyme Pharma Price Performance

Inozyme Pharma stock traded down $0.01 during mid-day trading on Monday, hitting $3.02. 699,732 shares of the company were exchanged, compared to its average volume of 455,230. Inozyme Pharma has a 12-month low of $2.38 and a 12-month high of $7.80. The company has a market capitalization of $194.00 million, a P/E ratio of -1.94 and a beta of 1.37. The business's 50 day simple moving average is $3.88 and its two-hundred day simple moving average is $4.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68.

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. Analysts forecast that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INZY. Bank of New York Mellon Corp raised its position 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 purchasing an additional 26,464 shares during the period. Rhumbline Advisers lifted its stake in Inozyme Pharma by 22.0% in the second quarter. Rhumbline Advisers now owns 77,004 shares of the company's stock valued at $343,000 after buying an additional 13,867 shares in the last quarter. American Century Companies Inc. boosted its holdings 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 buying an additional 5,673 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Inozyme Pharma during the second quarter worth $68,000. Finally, Dimensional Fund Advisors LP lifted its position in Inozyme Pharma by 117.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company's stock valued at $1,695,000 after acquiring an additional 205,417 shares in the last quarter. 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.