Inozyme Pharma (NASDAQ:INZY) Given New $23.00 Price Target at Piper Sandler

Inozyme Pharma (NASDAQ:INZY - Get Free Report) had its price target dropped by research analysts at Piper Sandler from $30.00 to $23.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock.

A number of other brokerages have also recently issued reports on INZY. HC Wainwright reissued a "buy" rating and issued a $16.00 target price on shares of Inozyme Pharma in a report on Tuesday. Needham & Company LLC lowered their price target on shares of Inozyme Pharma from $23.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday. Wells Fargo & Company cut their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Raymond James started coverage on shares of Inozyme Pharma in a research note on Thursday, December 12th. They issued an "outperform" rating and a $26.00 price target on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a report on Monday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $16.11.

Inozyme Pharma Stock Performance

INZY traded down $0.07 during trading hours on Tuesday, hitting $0.99. 332,246 shares of the stock were exchanged, compared to its average volume of 507,723. The stock has a market cap of $63.53 million, a price-to-earnings ratio of -0.63 and a beta of 1.32. Inozyme Pharma has a 12 month low of $0.98 and a 12 month high of $7.80. The stock has a 50-day simple moving average of $1.59 and a 200-day simple moving average of $3.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68.

Institutional Investors Weigh In On Inozyme Pharma

Large investors have recently modified their holdings of the stock. Jane Street Group LLC raised its stake in Inozyme Pharma by 7.5% during the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company's stock valued at $259,000 after purchasing an additional 3,443 shares during the period. OneDigital Investment Advisors LLC raised its position in Inozyme Pharma by 51.5% during the third quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company's stock valued at $105,000 after acquiring an additional 6,800 shares in the last quarter. JPMorgan Chase & Co. grew its position in Inozyme Pharma by 31.0% in the third quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company's stock worth $151,000 after acquiring an additional 6,851 shares in the last quarter. Palumbo Wealth Management LLC increased its stake in shares of Inozyme Pharma by 52.3% during the 4th quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company's stock worth $64,000 after purchasing an additional 7,995 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Inozyme Pharma by 11.6% during the 4th quarter. American Century Companies Inc. now owns 79,349 shares of the company's stock valued at $220,000 after purchasing an additional 8,263 shares in the last quarter. 88.30% of the stock is 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.

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