Wedbush Reaffirms Outperform Rating for Inozyme Pharma (NASDAQ:INZY)

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a note issued to investors on Monday,RTT News reports. They currently have a $7.00 target price on the stock, down from their previous target price of $12.00.

INZY has been the subject of a number of other research reports. Piper Sandler cut their price objective on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Raymond James initiated coverage on Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price target for the company. HC Wainwright upped their price objective on Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered their target price on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company 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 a consensus price target of $17.78.

Inozyme Pharma Price Performance

INZY stock traded down $0.06 during midday trading on Monday, hitting $1.10. The company’s stock had a trading volume of 189,426 shares, compared to its average volume of 506,952. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a 12 month low of $1.04 and a 12 month high of $7.80. The company has a 50 day moving average of $1.62 and a two-hundred day moving average of $3.36. The firm has a market capitalization of $70.34 million, a price-to-earnings ratio of -0.70 and a beta of 1.32.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Monday, March 10th. The company reported ($0.42) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.42). On average, analysts expect that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Trading of Inozyme Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its position in 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 acquiring an additional 3,443 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Inozyme Pharma by 51.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $105,000 after purchasing an additional 6,800 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Inozyme Pharma by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after purchasing an additional 6,851 shares during the last quarter. Palumbo Wealth Management LLC raised its position in Inozyme Pharma by 52.3% in the 4th quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock worth $64,000 after purchasing an additional 7,995 shares during the period. Finally, American Century Companies Inc. lifted its stake in Inozyme Pharma by 11.6% in the fourth quarter. American Century Companies Inc. now owns 79,349 shares of the company’s stock worth $220,000 after purchasing an additional 8,263 shares during the last quarter. Hedge funds and other 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.