Inozyme Pharma (NASDAQ:INZY) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a report issued on Thursday,Benzinga reports. The firm currently has a $16.00 price target on the stock.

A number of other research firms have also weighed in on INZY. Wedbush reiterated an “outperform” rating and issued a $7.00 target price (down previously from $12.00) on shares of Inozyme Pharma in a research note on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Inozyme Pharma in a research note on Tuesday. Piper Sandler decreased their price objective on shares of Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Raymond James dropped their target price on shares of Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company reduced their target price on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Inozyme Pharma presently has a consensus rating of “Buy” and an average price target of $14.63.

Inozyme Pharma Stock Down 3.2 %

Shares of NASDAQ:INZY opened at $0.88 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. The business has a 50 day simple moving average of $1.11 and a two-hundred day simple moving average of $2.57. Inozyme Pharma has a 1 year low of $0.72 and a 1 year high of $6.24. The firm has a market capitalization of $56.58 million, a PE ratio of -0.56 and a beta of 1.39.

Hedge Funds Weigh In On Inozyme Pharma

Several institutional investors have recently bought and sold shares of INZY. Jane Street Group LLC raised its position in shares of Inozyme Pharma by 7.5% in the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after acquiring an additional 3,443 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Inozyme Pharma by 31.0% in the third quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock worth $151,000 after purchasing an additional 6,851 shares during the last quarter. Palumbo Wealth Management LLC increased its position in shares of Inozyme Pharma by 52.3% during the fourth 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 in the last quarter. American Century Companies Inc. lifted its holdings in shares of Inozyme Pharma by 11.6% during the 4th quarter. American Century Companies Inc. now owns 79,349 shares of the company’s stock valued at $220,000 after purchasing an additional 8,263 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Inozyme Pharma by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,179,622 shares of the company’s stock worth $3,268,000 after purchasing an additional 8,450 shares in the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.