Inozyme Pharma, Inc. (NASDAQ:INZY) Receives $14.56 Consensus Price Target from Analysts

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have earned a consensus rating of “Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.56.

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Piper Sandler decreased their price target on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Wedbush restated an “outperform” rating and set a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a research note on Monday, March 10th. Needham & Company LLC decreased their target price on Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Finally, Raymond James dropped their price target on Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th.

Inozyme Pharma Stock Performance

Inozyme Pharma stock opened at $0.87 on Wednesday. Inozyme Pharma has a 52 week low of $0.86 and a 52 week high of $7.31. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $55.89 million, a P/E ratio of -0.56 and a beta of 1.32. The stock has a 50 day moving average of $1.21 and a 200-day moving average of $2.83.

Hedge Funds Weigh In On Inozyme Pharma

Several institutional investors have recently modified their holdings of INZY. Affinity Asset Advisors LLC lifted its position in Inozyme Pharma by 40.7% in the 4th quarter. Affinity Asset Advisors LLC now owns 3,972,318 shares of the company’s stock valued at $11,003,000 after purchasing an additional 1,150,000 shares during the last quarter. Sanofi bought a new stake in shares of Inozyme Pharma during the fourth quarter valued at approximately $1,228,000. Renaissance Technologies LLC boosted its position in shares of Inozyme Pharma by 155.7% during the fourth quarter. Renaissance Technologies LLC now owns 421,399 shares of the company’s stock worth $1,167,000 after buying an additional 256,599 shares during the period. Walleye Capital LLC bought a new position in Inozyme Pharma in the 4th quarter worth approximately $658,000. Finally, Eventide Asset Management LLC increased its position in Inozyme Pharma by 5.0% in the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock valued at $21,623,000 after acquiring an additional 198,216 shares during the period. 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.