Inozyme Pharma (NASDAQ:INZY) Receives New Coverage from Analysts at Jefferies Financial Group

Equities researchers at Jefferies Financial Group started coverage on shares of Inozyme Pharma (NASDAQ:INZYGet Rating) in a research report issued on Thursday, The Fly reports. The brokerage set a “hold” rating on the stock.

Several other analysts have also issued reports on the stock. Wedbush reduced their price target on shares of Inozyme Pharma from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 10th. HC Wainwright started coverage on shares of Inozyme Pharma in a research report on Monday, February 7th. They set a “buy” rating and a $33.00 price target on the stock. Needham & Company LLC started coverage on shares of Inozyme Pharma in a research report on Thursday, April 14th. They set a “buy” rating and a $23.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Inozyme Pharma from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Wednesday, May 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Inozyme Pharma currently has a consensus rating of “Buy” and a consensus price target of $20.88.

Inozyme Pharma stock opened at $4.00 on Thursday. The stock has a market cap of $160.39 million, a P/E ratio of -1.52 and a beta of 1.12. Inozyme Pharma has a twelve month low of $3.54 and a twelve month high of $19.58. The company’s 50-day moving average price is $4.27 and its two-hundred day moving average price is $5.99.

Inozyme Pharma (NASDAQ:INZYGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.11. As a group, equities analysts forecast that Inozyme Pharma will post -2.33 EPS for the current year.

In related news, CEO Axel Bolte acquired 67,750 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was acquired at an average price of $3.69 per share, with a total value of $249,997.50. Following the purchase, the chief executive officer now directly owns 258,575 shares in the company, valued at $954,141.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Lorne Hopfner acquired 1,070,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was bought at an average cost of $3.69 per share, with a total value of $3,948,300.00. Following the purchase, the director now owns 2,661,154 shares in the company, valued at $9,819,658.26. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,519,850 shares of company stock valued at $9,298,247. 11.29% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in INZY. PDT Partners LLC bought a new position in shares of Inozyme Pharma during the first quarter valued at $42,000. Renaissance Technologies LLC bought a new position in shares of Inozyme Pharma during the first quarter valued at $49,000. Citigroup Inc. raised its stake in shares of Inozyme Pharma by 241.6% during the first quarter. Citigroup Inc. now owns 12,517 shares of the company’s stock valued at $51,000 after acquiring an additional 8,853 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Inozyme Pharma by 16,531.3% during the fourth quarter. Wells Fargo & Company MN now owns 7,983 shares of the company’s stock valued at $54,000 after acquiring an additional 7,935 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Inozyme Pharma by 4,030.0% during the fourth quarter. Bank of America Corp DE now owns 11,853 shares of the company’s stock valued at $81,000 after acquiring an additional 11,566 shares during the last quarter.

Inozyme Pharma Company Profile (Get Rating)

Inozyme Pharma, Inc, a rare disease biopharmaceutical company, engages in developing therapeutics for treating abnormal mineralization impacting the vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant protein to treat the rare genetic diseases of ENPP1 and ABCC6 deficiencies, as well as for the treatment of calciphylaxis.

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