Inozyme Pharma (NASDAQ:INZY) Earns “Buy” Rating from Needham & Company LLC

Inozyme Pharma (NASDAQ:INZYGet Free Report)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $23.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 460.98% from the company’s previous close.

INZY has been the topic of a number of other reports. Jefferies Financial Group restated a “buy” rating and issued a $17.00 price target (up from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Inozyme Pharma in a report on Wednesday. Wedbush restated an “outperform” rating and set a $12.00 price objective (down from $15.00) on shares of Inozyme Pharma in a report on Tuesday. Finally, Stifel Nicolaus started coverage on Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.71.

Check Out Our Latest Analysis on Inozyme Pharma

Inozyme Pharma Stock Performance

INZY opened at $4.10 on Wednesday. The company has a market cap of $257.19 million, a price-to-earnings ratio of -2.81 and a beta of 1.54. Inozyme Pharma has a 12-month low of $2.71 and a 12-month high of $7.80. The company’s 50 day moving average is $5.13 and its 200 day moving average is $4.92. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48.

Inozyme Pharma (NASDAQ:INZYGet Free Report) last released its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. On average, equities research analysts predict that Inozyme Pharma will post -1.68 EPS for the current year.

Institutional Trading of Inozyme Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C purchased a new stake in shares of Inozyme Pharma during the 2nd quarter worth $52,000. Meeder Asset Management Inc. bought a new position in Inozyme Pharma in the second quarter worth about $68,000. SG Americas Securities LLC purchased a new stake in shares of Inozyme Pharma during the third quarter valued at about $81,000. Values First Advisors Inc. purchased a new stake in shares of Inozyme Pharma during the second quarter valued at about $76,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Inozyme Pharma in the 2nd quarter valued at about $84,000. Institutional investors own 88.30% of the company’s stock.

Inozyme Pharma Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Inozyme Pharma (NASDAQ:INZY)

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