Piper Sandler Lowers Inozyme Pharma (NASDAQ:INZY) Price Target to $30.00

Inozyme Pharma (NASDAQ:INZY) had its price target dropped by equities researchers at Piper Sandler from $43.00 to $30.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock.

INZY has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a report on Wednesday, November 6th. HC Wainwright raised their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, January 10th. Wedbush restated an “outperform” rating and issued a $12.00 price objective on shares of Inozyme Pharma in a report on Friday, January 10th. Finally, Raymond James initiated coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They issued an “outperform” rating and a $26.00 price objective on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $18.33.

Inozyme Pharma Price Performance

Inozyme Pharma stock opened at $1.51 on Monday. The firm has a market cap of $97.00 million, a PE ratio of -0.97 and a beta of 1.35. Inozyme Pharma has a 52-week low of $1.45 and a 52-week high of $7.80. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $2.91 and its two-hundred day moving average is $4.34.

Inozyme Pharma (NASDAQ:INZY) last released 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, research analysts expect that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INZY. Deerfield Management Company L.P. Series C purchased a new position in Inozyme Pharma during the 2nd quarter worth $52,000. Virtu Financial LLC purchased a new position in Inozyme Pharma during the 3rd quarter worth $64,000. SG Americas Securities LLC purchased a new position in Inozyme Pharma during the 3rd quarter worth $81,000. Cubist Systematic Strategies LLC purchased a new position in Inozyme Pharma during the 2nd quarter worth $84,000. Finally, The Manufacturers Life Insurance Company grew its position in Inozyme Pharma by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after purchasing an additional 2,690 shares during 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.