Needham & Company LLC Reiterates Buy Rating for Inozyme Pharma (NASDAQ:INZY)

Needham & Company LLC restated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $15.00 price objective on the stock.

Several other research firms have also issued reports on INZY. Wedbush reaffirmed an "outperform" rating and issued a $7.00 price target (down from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th. Piper Sandler reduced their target price on Inozyme Pharma from $30.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. Wells Fargo & Company decreased their price target on Inozyme Pharma from $14.00 to $11.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. HC Wainwright restated a "buy" rating and set a $16.00 price target on shares of Inozyme Pharma in a research note on Tuesday, March 11th. Finally, Raymond James decreased their price objective on shares of Inozyme Pharma from $24.00 to $12.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $14.63.

Inozyme Pharma Stock Up 0.6 %

Shares of NASDAQ:INZY traded up $0.01 during trading on Tuesday, reaching $0.89. The stock had a trading volume of 513,348 shares, compared to its average volume of 471,805. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $56.92 million, a P/E ratio of -0.57 and a beta of 1.39. The firm's 50-day simple moving average is $1.10 and its 200 day simple moving average is $2.54. Inozyme Pharma has a one year low of $0.72 and a one year high of $6.24.

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Institutional Trading of Inozyme Pharma

Large investors have recently made changes to their positions in the business. Affinity Asset Advisors LLC lifted its position in Inozyme Pharma by 40.7% during the fourth quarter. Affinity Asset Advisors LLC now owns 3,972,318 shares of the company's stock valued at $11,003,000 after purchasing an additional 1,150,000 shares during the period. Sanofi acquired a new position in shares of Inozyme Pharma in the 4th quarter valued at about $1,228,000. Renaissance Technologies LLC boosted its stake in shares of Inozyme Pharma by 155.7% in the fourth quarter. Renaissance Technologies LLC now owns 421,399 shares of the company's stock worth $1,167,000 after buying an additional 256,599 shares during the last quarter. Walleye Capital LLC acquired a new stake in Inozyme Pharma during the fourth quarter worth about $658,000. Finally, abrdn plc acquired a new stake in Inozyme Pharma during the fourth quarter worth about $472,000. 88.30% of the stock is owned by hedge funds and other 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.