Inozyme Pharma’s (INZY) Buy Rating Reiterated at Needham & Company LLC

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $23.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 380.17% from the company’s current price.

INZY has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Inozyme Pharma in a research note on Thursday, August 8th. Wedbush restated an “outperform” rating and set a $15.00 target price on shares of Inozyme Pharma in a research report on Monday, September 30th. Stifel Nicolaus initiated coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating and set a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.14.

Inozyme Pharma Price Performance

INZY stock opened at $4.79 on Friday. 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 company has a market capitalization of $300.48 million, a P/E ratio of -3.28 and a beta of 1.51. The business has a 50 day simple moving average of $5.29 and a 200-day simple moving average of $4.96. Inozyme Pharma has a twelve month low of $2.69 and a twelve month high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). As a group, equities analysts anticipate that Inozyme Pharma will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Inozyme Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C purchased a new position in Inozyme Pharma during the second quarter worth $52,000. Meeder Asset Management Inc. purchased a new stake in shares of Inozyme Pharma during the second quarter worth about $68,000. SG Americas Securities LLC acquired a new position in shares of Inozyme Pharma in the third quarter valued at approximately $81,000. Values First Advisors Inc. purchased a new position in shares of Inozyme Pharma during the second quarter valued at approximately $76,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Inozyme Pharma during the second quarter worth approximately $84,000. 88.30% of the stock is currently owned by hedge funds and other 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.