Inozyme Pharma (NASDAQ:INZY) Given New $12.00 Price Target at Raymond James

Inozyme Pharma (NASDAQ:INZY) had its price objective trimmed by Raymond James from $24.00 to $12.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently commented on INZY. 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. Needham & Company LLC reduced their target price on Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Inozyme Pharma in a research note on Tuesday. Piper Sandler cut their price target on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a research report on Monday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Inozyme Pharma presently has a consensus rating of “Buy” and an average price target of $14.56.

Inozyme Pharma Stock Up 1.9 %

NASDAQ INZY opened at $1.08 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. The company has a market capitalization of $69.38 million, a P/E ratio of -0.69 and a beta of 1.32. Inozyme Pharma has a one year low of $0.98 and a one year high of $7.80. The stock has a 50 day moving average price of $1.52 and a 200-day moving average price of $3.28.

Institutional Investors Weigh In On Inozyme Pharma

Several institutional investors have recently added to or reduced their stakes in the business. abrdn plc acquired a new stake in shares of Inozyme Pharma during the fourth quarter worth about $472,000. Eventide Asset Management LLC increased its position in shares of Inozyme Pharma by 5.0% in the third quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock valued at $21,623,000 after buying an additional 198,216 shares in the last quarter. Barclays PLC increased its position in shares of Inozyme Pharma by 261.4% in the third quarter. Barclays PLC now owns 76,730 shares of the company’s stock valued at $401,000 after buying an additional 55,497 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Inozyme Pharma by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock valued at $6,126,000 after buying an additional 19,499 shares in the last quarter. Finally, State Street Corp increased its position in shares of Inozyme Pharma by 5.0% during the third quarter. State Street Corp now owns 1,050,420 shares of the company’s stock worth $5,494,000 after purchasing an additional 50,386 shares in the last quarter. Institutional investors and hedge funds 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.