Inozyme Pharma, Inc. (NASDAQ:INZY) Receives Consensus Rating of “Buy” from Brokerages

Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) have received an average recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have covered the stock in the last year is $14.63.

INZY has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wedbush reiterated an “outperform” rating and issued a $7.00 target price (down from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Inozyme Pharma in a report on Tuesday, April 8th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Inozyme Pharma in a research note on Thursday, April 10th. Finally, Raymond James decreased their target price on Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th.

Inozyme Pharma Stock Down 4.4 %

Shares of NASDAQ:INZY opened at $0.92 on Friday. The company has a 50 day moving average of $1.06 and a 200-day moving average of $2.40. Inozyme Pharma has a one year low of $0.72 and a one year high of $6.24. The stock has a market cap of $59.07 million, a price-to-earnings ratio of -0.59 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68.

Institutional Trading of Inozyme Pharma

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in Inozyme Pharma by 7.5% in the third quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock valued at $259,000 after acquiring an additional 3,443 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Inozyme Pharma by 31.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after purchasing an additional 6,851 shares in the last quarter. Palumbo Wealth Management LLC increased its stake in shares of Inozyme Pharma by 52.3% in the 4th quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock valued at $64,000 after purchasing an additional 7,995 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Inozyme Pharma by 11.6% during the 4th quarter. American Century Companies Inc. now owns 79,349 shares of the company’s stock worth $220,000 after buying an additional 8,263 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Inozyme Pharma by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,179,622 shares of the company’s stock worth $3,268,000 after buying an additional 8,450 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

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.