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

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY - Get Free Report) have earned a consensus rating of "Buy" from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $18.33.

INZY has been the topic of a number of analyst reports. HC Wainwright boosted their price objective on Inozyme Pharma from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Raymond James assumed coverage on shares of Inozyme Pharma in a research report on Thursday, December 12th. They set an "outperform" rating and a $26.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Wedbush reiterated an "outperform" rating and issued a $12.00 target price on shares of Inozyme Pharma in a report on Friday, January 10th. Finally, Piper Sandler cut their price target on shares of Inozyme Pharma from $43.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, January 13th.

Inozyme Pharma Price Performance

Shares of NASDAQ:INZY traded down $0.05 during midday trading on Tuesday, hitting $1.45. The company's stock had a trading volume of 405,167 shares, compared to its average volume of 935,355. Inozyme Pharma has a 12-month low of $1.24 and a 12-month high of $7.80. The company has a market cap of $93.15 million, a P/E ratio of -0.93 and a beta of 1.29. 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 business's 50 day simple moving average is $2.29 and its 200 day simple moving average is $3.93.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last issued its 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. On average, analysts forecast that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Trading of Inozyme Pharma

Several institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of Inozyme Pharma during the third quarter worth $64,000. China Universal Asset Management Co. Ltd. acquired a new position in Inozyme Pharma during the 4th quarter worth about $38,000. SG Americas Securities LLC purchased a new position in Inozyme Pharma during the 3rd quarter valued at about $81,000. Cubist Systematic Strategies LLC acquired a new position in Inozyme Pharma in the 2nd quarter valued at about $84,000. Finally, Readystate Asset Management LP purchased a new stake in Inozyme Pharma during the third quarter worth about $100,000. 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.