Inozyme Pharma (NASDAQ:INZY) Earns Outperform Rating from Analysts at Raymond James

Raymond James began coverage on shares of Inozyme Pharma (NASDAQ:INZY) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set an “outperform” rating and a $26.00 price target on the stock.

Several other analysts also recently issued reports on INZY. Stifel Nicolaus initiated coverage on shares of Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and set a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $17.00.

Inozyme Pharma Trading Up 1.7 %

Shares of INZY stock opened at $3.03 on Thursday. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a fifty-two week low of $2.38 and a fifty-two week high of $7.80. The firm’s 50 day moving average price is $3.88 and its two-hundred day moving average price is $4.63. The stock has a market cap of $194.65 million, a price-to-earnings ratio of -1.94 and a beta of 1.37.

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

Institutional Investors Weigh In On Inozyme Pharma

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Inozyme Pharma by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after purchasing an additional 2,690 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Inozyme Pharma by 7.5% in the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock valued at $259,000 after buying an additional 3,443 shares during the period. American Century Companies Inc. grew its position in shares of Inozyme Pharma by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after buying an additional 5,673 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in Inozyme Pharma by 51.5% during the third quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock worth $105,000 after acquiring an additional 6,800 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new position in Inozyme Pharma in the second quarter worth about $52,000. 88.30% of the stock is owned by institutional investors and hedge funds.

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.