Brokerages Set Inozyme Pharma, Inc. (NASDAQ:INZY) Price Target at $15.71

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY - Get Free Report) have been given an average recommendation of "Buy" by the seven brokerages that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.71.

INZY has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Inozyme Pharma in a research report on Thursday, September 12th. They set a "buy" rating and a $16.00 price objective for the company. 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. Wedbush reiterated an "outperform" rating and set a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday, November 5th. HC Wainwright reiterated a "buy" rating and set a $14.00 price target on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th.

Inozyme Pharma Stock Down 0.7 %

Shares of NASDAQ:INZY opened at $2.79 on Thursday. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a one year low of $2.69 and a one year high of $7.80. The business's 50-day simple moving average is $4.83 and its 200 day simple moving average is $4.87.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. As a group, equities research analysts forecast that Inozyme Pharma will post -1.59 earnings per share for the current year.

Institutional Investors Weigh In On Inozyme Pharma

A number of institutional investors and hedge funds have recently modified their holdings of INZY. Deerfield Management Company L.P. Series C acquired a new position in Inozyme Pharma during the second quarter valued at $52,000. Virtu Financial LLC purchased a new position in Inozyme Pharma in the third quarter valued at about $64,000. Meeder Asset Management Inc. purchased a new position in Inozyme Pharma in the second quarter valued at about $68,000. Values First Advisors Inc. purchased a new position in Inozyme Pharma in the second quarter valued at about $76,000. Finally, SG Americas Securities LLC bought a new stake in shares of Inozyme Pharma during the 3rd quarter worth about $81,000. 88.30% of the stock is owned by institutional investors and hedge funds.

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.