Inozyme Pharma’s (INZY) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research report report published on Tuesday, RTT News reports. They currently have a $15.00 price target on the stock.

INZY has been the topic of a number of other reports. Needham & Company LLC reaffirmed a buy rating and set a $23.00 price objective on shares of Inozyme Pharma in a report on Tuesday, April 9th. HC Wainwright restated a buy rating and set a $16.00 price target on shares of Inozyme Pharma in a report on Wednesday, March 13th. Finally, Bank of America decreased their price objective on shares of Inozyme Pharma from $16.00 to $14.00 and set a buy rating for the company in a research note on Tuesday, April 9th.

Inozyme Pharma Price Performance

Shares of NASDAQ INZY opened at $4.60 on Tuesday. The stock has a market cap of $284.56 million, a price-to-earnings ratio of -3.31 and a beta of 1.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 13.36 and a current ratio of 13.36. Inozyme Pharma has a fifty-two week low of $2.69 and a fifty-two week high of $7.80. The firm’s 50-day simple moving average is $5.66 and its 200 day simple moving average is $4.75.

Inozyme Pharma (NASDAQ:INZY) last posted its earnings results on Tuesday, March 12th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). As a group, research analysts anticipate that Inozyme Pharma will post -1.46 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Douglas A. Treco sold 7,523 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $6.94, for a total value of $52,209.62. Following the transaction, the chief executive officer now directly owns 20,665 shares of the company’s stock, valued at approximately $143,415.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.88% of the company’s stock.

Institutional Investors Weigh In On Inozyme Pharma

A number of hedge funds have recently modified their holdings of INZY. Strs Ohio purchased a new stake in Inozyme Pharma in the third quarter worth $41,000. Values First Advisors Inc. bought a new position in shares of Inozyme Pharma during the 4th quarter worth $59,000. SG Americas Securities LLC bought a new position in shares of Inozyme Pharma during the 3rd quarter worth $61,000. Superstring Capital Management LP purchased a new stake in Inozyme Pharma in the 4th quarter worth about $528,000. Finally, Schonfeld Strategic Advisors LLC raised its stake in Inozyme Pharma by 346.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 311,880 shares of the company’s stock valued at $1,310,000 after acquiring an additional 242,080 shares during the period. Institutional investors own 88.30% of the company’s stock.

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.