Inozyme Pharma, Inc. (NASDAQ:INZY) Receives $17.00 Consensus Price Target from Brokerages

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.00.

INZY has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a report on Wednesday, November 6th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Raymond James began coverage on Inozyme Pharma in a research report on Thursday, December 12th. They issued an “outperform” rating and a $26.00 price target for the company. Stifel Nicolaus assumed coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $12.00 target price (down previously from $15.00) on shares of Inozyme Pharma in a report on Tuesday, November 5th.

Inozyme Pharma Stock Performance

NASDAQ INZY opened at $2.99 on Monday. Inozyme Pharma has a fifty-two week low of $2.38 and a fifty-two week high of $7.80. The stock has a market cap of $192.08 million, a PE ratio of -1.92 and a beta of 1.37. 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 firm’s fifty day moving average price is $3.65 and its two-hundred day moving average price is $4.57.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. On average, equities analysts expect that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Inozyme Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C bought a new position in Inozyme Pharma during the second quarter valued at $52,000. Virtu Financial LLC purchased a new stake in Inozyme Pharma during the third quarter valued at about $64,000. Meeder Asset Management Inc. bought a new position in Inozyme Pharma during the second quarter worth about $68,000. SG Americas Securities LLC purchased a new position in shares of Inozyme Pharma in the third quarter worth about $81,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Inozyme Pharma in the second quarter valued at approximately $84,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

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.