Inozyme Pharma (NASDAQ:INZY) Releases Quarterly Earnings Results, Hits Estimates

Inozyme Pharma (NASDAQ:INZY) posted its earnings results on Monday. The company reported ($0.42) earnings per share for the quarter, hitting the consensus estimate of ($0.42), Zacks reports.

Inozyme Pharma Stock Performance

NASDAQ:INZY opened at $1.11 on Monday. The firm has a 50-day moving average of $1.62 and a two-hundred day moving average of $3.36. Inozyme Pharma has a 1-year low of $1.04 and a 1-year high of $7.80. The stock has a market cap of $71.11 million, a P/E ratio of -0.71 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68.

Wall Street Analysts Forecast Growth

INZY has been the topic of several research reports. HC Wainwright upped their price target on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Inozyme Pharma in a research note on Friday, January 10th. Wells Fargo & Company cut their target price on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Raymond James started coverage on Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Piper Sandler cut their price objective on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inozyme Pharma has a consensus rating of “Buy” and an average price target of $18.33.

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.