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

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have received an average recommendation of “Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.56.

A number of equities research analysts have weighed in on the company. Needham & Company LLC cut their target price on Inozyme Pharma from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Wedbush restated an “outperform” rating and issued a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th. Piper Sandler lowered their target price on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Raymond James reduced their price objective on shares of Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Inozyme Pharma in a report on Tuesday, March 11th.

Institutional Investors Weigh In On Inozyme Pharma

A number of large investors have recently made changes to their positions in INZY. Eventide Asset Management LLC grew its position in Inozyme Pharma by 5.0% during the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock worth $21,623,000 after purchasing an additional 198,216 shares in the last quarter. Affinity Asset Advisors LLC boosted its position in shares of Inozyme Pharma by 40.7% in the fourth quarter. Affinity Asset Advisors LLC now owns 3,972,318 shares of the company’s stock worth $11,003,000 after buying an additional 1,150,000 shares during the period. Rock Springs Capital Management LP grew its holdings in shares of Inozyme Pharma by 1.6% during the fourth quarter. Rock Springs Capital Management LP now owns 3,861,983 shares of the company’s stock valued at $10,698,000 after buying an additional 59,100 shares in the last quarter. Millennium Management LLC raised its position in Inozyme Pharma by 7.9% during the fourth quarter. Millennium Management LLC now owns 1,882,274 shares of the company’s stock valued at $5,214,000 after buying an additional 137,821 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Inozyme Pharma by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,179,622 shares of the company’s stock worth $3,268,000 after acquiring an additional 8,450 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Inozyme Pharma Stock Down 4.4 %

INZY stock opened at $0.87 on Wednesday. The firm’s 50-day moving average is $1.21 and its two-hundred day moving average is $2.83. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $55.89 million, a price-to-earnings ratio of -0.56 and a beta of 1.32. Inozyme Pharma has a 52 week low of $0.86 and a 52 week high of $7.31.

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.