Inozyme Pharma's (INZY) Buy Rating Reaffirmed at Needham & Company LLC

Inozyme Pharma (NASDAQ:INZY - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They currently have a $23.00 price objective on the stock. Needham & Company LLC's target price suggests a potential upside of 443.74% from the stock's previous close.

A number of other research analysts have also recently weighed in on INZY. Wedbush restated an "outperform" rating and set a $12.00 target price (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday. Jefferies Financial Group restated a "buy" rating and set a $17.00 price target (up previously from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. HC Wainwright reiterated a "buy" rating and issued a $14.00 price target on shares of Inozyme Pharma in a research report on Wednesday. Finally, Stifel Nicolaus initiated coverage on shares of Inozyme Pharma in a research report on Thursday, September 12th. They set a "buy" rating and a $16.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $15.71.

Inozyme Pharma Stock Up 3.9 %

Shares of NASDAQ INZY traded up $0.16 during midday trading on Wednesday, hitting $4.23. The stock had a trading volume of 630,419 shares, compared to its average volume of 239,434. The company has a market cap of $265.35 million, a P/E ratio of -2.90 and a beta of 1.54. Inozyme Pharma has a 52 week low of $2.71 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 business's 50 day moving average is $5.15 and its 200-day moving average is $4.93.

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

Institutional Trading of Inozyme Pharma

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