Wedbush Reaffirms Outperform Rating for Inozyme Pharma (NASDAQ:INZY)

Wedbush reiterated their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $15.00 price objective on the stock.

Several other research firms have also issued reports on INZY. Stifel Nicolaus began coverage on shares of Inozyme Pharma in a research report on Thursday, September 12th. They set a buy rating and a $16.00 price target for the company. HC Wainwright restated a buy rating and set a $14.00 price target on shares of Inozyme Pharma in a research report on Thursday, August 8th. Jefferies Financial Group reiterated a buy rating and issued a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Finally, Needham & Company LLC restated a buy rating and issued a $23.00 target price on shares of Inozyme Pharma in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $16.14.

Inozyme Pharma Price Performance

INZY opened at $5.03 on Monday. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $311.14 million, a P/E ratio of -3.67 and a beta of 1.51. The stock has a 50-day moving average price of $5.24 and a 200-day moving average price of $5.12. Inozyme Pharma has a 12-month low of $2.69 and a 12-month high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.07). Equities analysts predict that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INZY. Deerfield Management Company L.P. Series C purchased a new position in shares of Inozyme Pharma during the second quarter valued at about $52,000. Meeder Asset Management Inc. purchased a new position in shares of Inozyme Pharma during the 2nd quarter worth approximately $68,000. Values First Advisors Inc. purchased a new position in shares of Inozyme Pharma during the 2nd quarter worth approximately $76,000. Cubist Systematic Strategies LLC bought a new position in shares of Inozyme Pharma in the 2nd quarter worth approximately $84,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Inozyme Pharma by 14.4% in the 2nd 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 period. 88.30% of the stock is currently owned by institutional investors.

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.