Wedbush Reiterates "Outperform" Rating for Inozyme Pharma (NASDAQ:INZY)

Inozyme Pharma (NASDAQ:INZY - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They currently have a $12.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus started 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. HC Wainwright lifted their price target on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday. Raymond James started coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They issued an "outperform" rating and a $26.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $23.00 target price on shares of Inozyme Pharma in a report on Wednesday, November 6th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $17.25.

Inozyme Pharma Price Performance

Shares of INZY stock traded down $0.80 on Friday, reaching $2.00. The company's stock had a trading volume of 2,233,527 shares, compared to its average volume of 817,277. Inozyme Pharma has a 12-month low of $1.97 and a 12-month high of $7.80. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The company 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.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, topping analysts' consensus estimates of ($0.44) by $0.05. As a group, equities analysts predict that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Inozyme Pharma by 31.0% in the 3rd 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. Virtu Financial LLC purchased a new position in Inozyme Pharma during the 3rd quarter worth $64,000. Barclays PLC lifted its holdings in shares of Inozyme Pharma by 261.4% in the 3rd quarter. Barclays PLC now owns 76,730 shares of the company's stock worth $401,000 after buying an additional 55,497 shares during the period. Geode Capital Management LLC grew its position in shares of Inozyme Pharma by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company's stock worth $6,126,000 after buying an additional 19,499 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Inozyme Pharma by 7.5% during the third quarter. Jane Street Group LLC now owns 49,460 shares of the company's stock valued at $259,000 after buying an additional 3,443 shares during the period. Institutional investors own 88.30% of the company's stock.

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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