Wells Fargo & Company Has Lowered Expectations for Inozyme Pharma (NASDAQ:INZY) Stock Price

Inozyme Pharma (NASDAQ:INZY) had its target price cut by Wells Fargo & Company from $14.00 to $11.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Raymond James began coverage on shares of Inozyme Pharma in a research report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $12.00 price target on shares of Inozyme Pharma in a research report on Friday, January 10th. Piper Sandler reduced their price target on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, HC Wainwright upped their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Inozyme Pharma has an average rating of “Buy” and an average target price of $18.33.

Inozyme Pharma Price Performance

INZY stock opened at $1.38 on Monday. The firm’s 50-day moving average price is $2.86 and its two-hundred day moving average price is $4.32. Inozyme Pharma has a 12-month low of $1.38 and a 12-month high of $7.80. The stock has a market capitalization of $88.65 million, a price-to-earnings ratio of -0.88 and a beta of 1.35. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate 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 year.

Hedge Funds Weigh In On Inozyme Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in shares of Inozyme Pharma by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after buying an additional 2,690 shares during the last quarter. Jane Street Group LLC grew its holdings 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 last quarter. American Century Companies Inc. grew its holdings in shares of Inozyme Pharma by 11.0% during the second quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after buying an additional 5,673 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Inozyme Pharma by 51.5% during the third quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $105,000 after buying an additional 6,800 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Inozyme Pharma by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after buying an additional 6,851 shares during the last quarter. 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.