Inozyme Pharma, Inc. (NASDAQ:INZY) Given Consensus Rating of “Buy” by Brokerages

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have been given an average rating of “Buy” by the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $17.00.

INZY has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $12.00 price objective (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 note on Wednesday, November 6th. Raymond James assumed coverage on shares of Inozyme Pharma in a research report on Thursday. They set an “outperform” rating and a $26.00 target price on the stock. Finally, Stifel Nicolaus started coverage on Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price target on the stock.

Inozyme Pharma Stock Up 1.7 %

Shares of INZY stock opened at $3.03 on Monday. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a 12 month low of $2.38 and a 12 month high of $7.80. The stock has a market cap of $194.65 million, a P/E ratio of -1.94 and a beta of 1.37. The company has a 50 day simple moving average of $3.88 and a two-hundred day simple moving average of $4.64.

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

Institutional Investors Weigh In On Inozyme Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INZY. Eventide Asset Management LLC lifted its holdings in shares of Inozyme Pharma by 5.0% during the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock valued at $21,623,000 after purchasing an additional 198,216 shares during the last quarter. Samlyn Capital LLC raised its holdings in shares of Inozyme Pharma by 15.0% during the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after acquiring an additional 437,622 shares during the last quarter. Affinity Asset Advisors LLC lifted its stake in shares of Inozyme Pharma by 8.1% in the second quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company’s stock worth $12,739,000 after buying an additional 213,733 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Inozyme Pharma by 154.1% in the second quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock valued at $7,974,000 after purchasing an additional 1,084,341 shares during the period. Finally, Geode Capital Management LLC grew its position in Inozyme Pharma by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock worth $6,126,000 after acquiring an additional 19,499 shares during the period. Institutional investors own 88.30% of the company’s stock.

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.