Inozyme Pharma (NASDAQ:INZY) Price Target Raised to $16.00

Inozyme Pharma (NASDAQ:INZY - Free Report) had its price objective upped by HC Wainwright from $14.00 to $16.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reissued a "buy" rating and issued a $23.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Raymond James started coverage on shares of Inozyme Pharma in a research report on Thursday, December 12th. They set an "outperform" rating and a $26.00 price objective for the company. Stifel Nicolaus started coverage on Inozyme Pharma in a research note on Thursday, September 12th. They set a "buy" rating and a $16.00 target price on the stock. Finally, Wedbush reiterated an "outperform" rating and issued a $12.00 price objective (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday, November 5th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inozyme Pharma currently has an average rating of "Buy" and an average target price of $17.25.

Inozyme Pharma Trading Down 28.6 %

INZY traded down $0.80 during midday trading on Friday, reaching $2.00. 2,233,527 shares of the company were exchanged, compared to its average volume of 817,277. The stock has a market capitalization of $128.48 million, a P/E ratio of -1.28 and a beta of 1.35. The stock's 50-day simple moving average is $3.07 and its 200 day simple moving average is $4.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. Inozyme Pharma has a one year low of $1.97 and a one year high of $7.80.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last posted its earnings results 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. As a group, analysts forecast that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inozyme Pharma

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Inozyme Pharma by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company's stock worth $151,000 after buying an additional 6,851 shares during the period. Virtu Financial LLC acquired a new position in Inozyme Pharma in the third quarter valued at $64,000. Barclays PLC boosted its position in Inozyme Pharma by 261.4% during the third quarter. Barclays PLC now owns 76,730 shares of the company's stock valued at $401,000 after acquiring an additional 55,497 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Inozyme Pharma by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company's stock worth $6,126,000 after acquiring an additional 19,499 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Inozyme Pharma by 7.5% in 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. 88.30% of the stock is currently owned by institutional investors and hedge funds.

About Inozyme Pharma

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.