Inozyme Pharma (NASDAQ:INZY) Price Target Cut to $15.00 by Analysts at Needham & Company LLC

Inozyme Pharma (NASDAQ:INZY) had its price objective reduced by investment analysts at Needham & Company LLC from $23.00 to $15.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler reduced their price objective on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Raymond James began coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They issued an “outperform” rating and a $26.00 price target on the stock. HC Wainwright increased their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, January 10th. Wedbush restated an “outperform” rating and set a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a research report on Monday. Finally, Wells Fargo & Company decreased their target price on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $16.89.

Inozyme Pharma Stock Performance

NASDAQ:INZY opened at $1.06 on Tuesday. The stock has a 50-day moving average price of $1.59 and a 200 day moving average price of $3.33. 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 $1.04 and a 12-month high of $7.80. The stock has a market capitalization of $68.09 million, a P/E ratio of -0.68 and a beta of 1.32.

Institutional Trading of Inozyme Pharma

Several hedge funds have recently made changes to their positions in INZY. Two Sigma Investments LP purchased a new position in Inozyme Pharma in the fourth quarter worth about $88,000. Two Sigma Advisers LP lifted its stake in shares of Inozyme Pharma by 223.9% in the 4th quarter. Two Sigma Advisers LP now owns 78,700 shares of the company’s stock valued at $218,000 after purchasing an additional 54,400 shares during the last quarter. Sanofi purchased a new position in shares of Inozyme Pharma in the 4th quarter worth approximately $1,228,000. Shay Capital LLC purchased a new position in shares of Inozyme Pharma in the 4th quarter worth approximately $148,000. Finally, ProShare Advisors LLC bought a new position in shares of Inozyme Pharma during the 4th quarter valued at approximately $49,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

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.