HC Wainwright Forecasts Stronger Earnings for Inozyme Pharma

Inozyme Pharma, Inc. (NASDAQ:INZY) – Equities research analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for Inozyme Pharma in a report issued on Wednesday, November 6th. HC Wainwright analyst E. White now forecasts that the company will earn ($1.62) per share for the year, up from their previous forecast of ($1.77). HC Wainwright has a “Buy” rating and a $14.00 price objective on the stock. The consensus estimate for Inozyme Pharma’s current full-year earnings is ($1.67) per share. HC Wainwright also issued estimates for Inozyme Pharma’s Q4 2024 earnings at ($0.42) EPS, FY2025 earnings at ($1.74) EPS and FY2026 earnings at ($1.89) EPS.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05.

INZY has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a research report on Wednesday. Stifel Nicolaus started coverage on Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $12.00 price objective (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $17.00 target price (up from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.71.

Inozyme Pharma Stock Performance

NASDAQ:INZY opened at $4.02 on Friday. The firm’s fifty day simple moving average is $5.10 and its 200 day simple moving average is $4.93. The company has a current ratio of 7.68, a quick ratio of 9.84 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a twelve month low of $2.71 and a twelve month high of $7.80. The firm has a market capitalization of $258.24 million, a price-to-earnings ratio of -2.58 and a beta of 1.54.

Institutional Trading of 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 2nd quarter valued at $52,000. Meeder Asset Management Inc. acquired a new stake in shares of Inozyme Pharma in the 2nd quarter valued at about $68,000. Values First Advisors Inc. bought a new position in shares of Inozyme Pharma during the second quarter worth about $76,000. SG Americas Securities LLC bought a new position in shares of Inozyme Pharma during the third quarter worth about $81,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Inozyme Pharma in the second quarter worth about $84,000. 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.