Inozyme Pharma, Inc. (NASDAQ:INZY) Receives $14.56 Consensus Target Price from Analysts

Inozyme Pharma, Inc. (NASDAQ:INZY) has earned an average rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $14.56.

Several equities analysts recently commented on INZY shares. Piper Sandler dropped their target price on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company dropped their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wedbush reiterated an “outperform” rating and set a $7.00 price objective (down from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th. Raymond James lowered their target price on shares of Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Finally, Needham & Company LLC cut their price target on shares of Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th.

Hedge Funds Weigh In On Inozyme Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in INZY. Affinity Asset Advisors LLC raised its position in Inozyme Pharma by 40.7% in the fourth quarter. Affinity Asset Advisors LLC now owns 3,972,318 shares of the company’s stock valued at $11,003,000 after purchasing an additional 1,150,000 shares during the period. Sanofi acquired a new stake in shares of Inozyme Pharma in the fourth quarter valued at about $1,228,000. Renaissance Technologies LLC raised its holdings in shares of Inozyme Pharma by 155.7% during the 4th quarter. Renaissance Technologies LLC now owns 421,399 shares of the company’s stock valued at $1,167,000 after buying an additional 256,599 shares during the period. Walleye Capital LLC acquired a new position in Inozyme Pharma during the 4th quarter worth approximately $658,000. Finally, Eventide Asset Management LLC boosted its holdings in Inozyme Pharma by 5.0% in the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock worth $21,623,000 after acquiring an additional 198,216 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Inozyme Pharma Stock Down 7.5 %

INZY stock opened at $0.92 on Wednesday. The company has a 50 day moving average price of $1.22 and a two-hundred day moving average price of $2.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. The stock has a market capitalization of $59.10 million, a P/E ratio of -0.59 and a beta of 1.32. Inozyme Pharma has a one year low of $0.91 and a one year high of $7.80.

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.