Inozyme Pharma, Inc. (NASDAQ:INZY) Receives Average Rating of "Buy" from Brokerages

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY - Get Free Report) have earned an average rating of "Buy" from the eight brokerages that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $17.25.

A number of brokerages recently issued reports on INZY. Raymond James initiated 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. Wedbush restated an "outperform" rating and issued a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday, November 5th. Stifel Nicolaus initiated coverage on shares of 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. Finally, HC Wainwright boosted their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday.

Institutional Trading of Inozyme Pharma

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in shares of Inozyme Pharma by 154.1% during the 2nd quarter. Millennium Management LLC now owns 1,787,947 shares of the company's stock valued at $7,974,000 after acquiring an additional 1,084,341 shares in the last quarter. Samlyn Capital LLC raised its position in Inozyme Pharma by 15.0% in the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company's stock valued at $14,943,000 after purchasing an additional 437,622 shares during the last quarter. Affinity Asset Advisors LLC boosted its stake in shares of Inozyme Pharma by 8.1% during the second quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company's stock valued at $12,739,000 after purchasing an additional 213,733 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Inozyme Pharma by 117.6% during the second quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company's stock worth $1,695,000 after purchasing an additional 205,417 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its position in Inozyme Pharma by 5.0% during the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company's stock worth $21,623,000 after buying an additional 198,216 shares during the period. Institutional investors and hedge funds own 88.30% of the company's stock.

Inozyme Pharma Stock Performance

Shares of Inozyme Pharma stock traded down $0.80 during trading on Friday, reaching $2.00. The company's stock had a trading volume of 2,231,260 shares, compared to its average volume of 815,876. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The business's 50-day moving average price is $3.07 and its 200-day moving average price is $4.40. Inozyme Pharma has a 52 week low of $1.97 and a 52 week high of $7.80. The firm has a market cap of $128.48 million, a PE ratio of -1.28 and a beta of 1.35.

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, beating analysts' consensus estimates of ($0.44) by $0.05. Equities analysts forecast that Inozyme Pharma will post -1.59 earnings per share for the current year.

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.