HC Wainwright Reiterates Buy Rating for Inozyme Pharma (NASDAQ:INZY)

Inozyme Pharma (NASDAQ:INZY - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $14.00 target price on the stock. HC Wainwright's price objective would suggest a potential upside of 230.97% from the company's previous close.

INZY has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $23.00 price target on shares of Inozyme Pharma in a research report on Friday, October 25th. Wedbush reiterated an "outperform" rating and set a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a report on Tuesday. Stifel Nicolaus assumed coverage on Inozyme Pharma in a research note on Thursday, September 12th. They set a "buy" rating and a $16.00 price objective on the stock. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inozyme Pharma presently has a consensus rating of "Buy" and a consensus price target of $15.71.

Inozyme Pharma Trading Up 3.9 %

Shares of NASDAQ INZY traded up $0.16 during trading on Wednesday, reaching $4.23. The company had a trading volume of 630,419 shares, compared to its average volume of 239,434. Inozyme Pharma has a 12 month low of $2.71 and a 12 month high of $7.80. The company has a quick ratio of 9.84, a current ratio of 9.84 and a debt-to-equity ratio of 0.48. The stock has a market cap of $265.35 million, a P/E ratio of -2.90 and a beta of 1.54. The company's fifty day moving average price is $5.15 and its 200-day moving average price is $4.93.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.07). As a group, research analysts expect that Inozyme Pharma will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Inozyme Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C bought a new stake in shares of Inozyme Pharma during the 2nd quarter valued at about $52,000. Meeder Asset Management Inc. bought a new stake in Inozyme Pharma during the second quarter valued at approximately $68,000. Values First Advisors Inc. purchased a new position in Inozyme Pharma in the 2nd quarter worth approximately $76,000. SG Americas Securities LLC bought a new position in shares of Inozyme Pharma in the 3rd quarter worth $81,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Inozyme Pharma during the 2nd quarter valued at $84,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

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.