Needham & Company LLC 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 Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $23.00 price objective on the stock. Needham & Company LLC's price objective would suggest a potential upside of 380.17% from the company's current price.

Other analysts have also issued research reports about the company. Jefferies Financial Group reiterated a "buy" rating and set a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. Stifel Nicolaus assumed coverage on Inozyme Pharma in a report on Thursday, September 12th. They issued a "buy" rating and a $16.00 price objective for the company. Wedbush reiterated an "outperform" rating and issued a $15.00 price target on shares of Inozyme Pharma in a research note on Monday, September 30th. Finally, HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Inozyme Pharma in a research note on Thursday, August 8th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $16.14.

Inozyme Pharma Trading Down 2.4 %

NASDAQ INZY traded down $0.12 on Friday, reaching $4.79. The company had a trading volume of 189,802 shares, compared to its average volume of 422,431. Inozyme Pharma has a 52 week low of $2.69 and a 52 week 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 $296.29 million, a price-to-earnings ratio of -3.59 and a beta of 1.51. The stock's 50 day moving average is $5.28 and its 200-day moving average is $4.97.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.07). Equities analysts predict that Inozyme Pharma will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INZY. Millennium Management LLC increased its position in Inozyme Pharma by 154.1% in the 2nd quarter. Millennium Management LLC now owns 1,787,947 shares of the company's stock valued at $7,974,000 after buying an additional 1,084,341 shares in the last quarter. Affinity Asset Advisors LLC boosted its holdings in Inozyme Pharma by 40.1% during the 1st quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company's stock worth $20,242,000 after acquiring an additional 756,717 shares during the last quarter. Samlyn Capital LLC grew its position in Inozyme Pharma by 15.0% in the 2nd quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company's stock worth $14,943,000 after purchasing an additional 437,622 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Inozyme Pharma by 117.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company's stock valued at $1,695,000 after purchasing an additional 205,417 shares during the period. Finally, Kennedy Capital Management LLC raised its stake in shares of Inozyme Pharma by 52.2% during the 1st quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company's stock worth $3,352,000 after purchasing an additional 150,120 shares during the period. Institutional investors own 88.30% of the company's stock.

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.