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

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research note issued to investors on Thursday, RTT News reports. They currently have a $15.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 159.07% from the stock’s current price.

Several other research analysts also recently commented on INZY. Bank of America dropped their price target on Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Wells Fargo & Company started coverage on Inozyme Pharma in a research report on Thursday, May 30th. They issued an “overweight” rating and a $14.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a report on Wednesday, May 8th. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Inozyme Pharma in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inozyme Pharma presently has a consensus rating of “Buy” and a consensus price target of $16.00.

Inozyme Pharma Stock Up 1.6 %

Inozyme Pharma stock traded up $0.09 during mid-day trading on Thursday, hitting $5.79. The company’s stock had a trading volume of 303,887 shares, compared to its average volume of 500,772. The firm’s 50 day moving average is $4.78 and its 200 day moving average is $5.18. The company has a market cap of $358.17 million, a PE ratio of -4.23 and a beta of 1.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.05 and a quick ratio of 14.05. Inozyme Pharma has a 52-week low of $2.69 and a 52-week high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.03). On average, analysts anticipate that Inozyme Pharma will post -1.59 earnings per share for the current year.

Institutional Investors Weigh In On Inozyme Pharma

Large investors have recently made changes to their positions in the company. Superstring Capital Management LP acquired a new position in Inozyme Pharma in the fourth quarter valued at about $528,000. Affinity Asset Advisors LLC boosted its holdings in shares of Inozyme Pharma by 36.7% in the 4th quarter. Affinity Asset Advisors LLC now owns 1,885,802 shares of the company’s stock worth $8,034,000 after acquiring an additional 505,950 shares in the last quarter. Values First Advisors Inc. bought a new stake in Inozyme Pharma during the 4th quarter worth approximately $59,000. Eventide Asset Management LLC grew its position in Inozyme Pharma by 1.8% during the 4th quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock worth $13,546,000 after acquiring an additional 54,837 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Inozyme Pharma by 46.9% during the 4th quarter. SG Americas Securities LLC now owns 21,236 shares of the company’s stock valued at $90,000 after purchasing an additional 6,784 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

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.