Inozyme Pharma (NASDAQ:INZY) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note released on Wednesday, Benzinga reports. The brokerage currently has a $23.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group reissued a “buy” rating and set a $17.00 price target (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and issued a $12.00 price objective (down from $15.00) on shares of Inozyme Pharma in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Inozyme Pharma in a research report on Wednesday. Finally, Stifel Nicolaus assumed 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 on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inozyme Pharma presently has a consensus rating of “Buy” and a consensus target price of $15.71.

Inozyme Pharma Price Performance

Shares of INZY traded up $0.07 during mid-day trading on Wednesday, hitting $4.30. 27,968 shares of the company traded hands, compared to its average volume of 416,387. Inozyme Pharma has a one year low of $2.71 and a one year high of $7.80. 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 business has a 50-day moving average of $5.15 and a 200 day moving average of $4.93. The stock has a market capitalization of $269.74 million, a price-to-earnings ratio of -2.90 and a beta of 1.54.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. As a group, equities analysts expect that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C acquired a new position in shares of Inozyme Pharma during the 2nd quarter worth about $52,000. Meeder Asset Management Inc. acquired a new position in shares of Inozyme Pharma during the 2nd quarter worth about $68,000. Values First Advisors Inc. acquired a new position in shares of Inozyme Pharma during the 2nd quarter worth about $76,000. SG Americas Securities LLC acquired a new position in shares of Inozyme Pharma during the 3rd quarter worth about $81,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Inozyme Pharma during the 2nd quarter worth about $84,000. 88.30% of the stock is currently 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.