HC Wainwright Reaffirms “Buy” Rating for Inozyme Pharma (NASDAQ:INZY)

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $16.00 target price on the stock.

A number of other analysts also recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $7.00 target price (down from $12.00) on shares of Inozyme Pharma in a research report on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Inozyme Pharma in a research note on Tuesday. Wells Fargo & Company dropped their price target on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Raymond James reduced their price objective on 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, Piper Sandler lowered their price objective on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $14.63.

Inozyme Pharma Trading Up 0.6 %

INZY opened at $0.89 on Thursday. The stock has a market cap of $56.92 million, a PE ratio of -0.57 and a beta of 1.39. The business has a 50 day moving average of $1.10 and a 200-day moving average of $2.54. Inozyme Pharma has a 52 week low of $0.72 and a 52 week high of $6.24. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On Inozyme Pharma

A number of hedge funds have recently added to or reduced their stakes in the company. Harvest Investment Services LLC bought a new stake in shares of Inozyme Pharma in the 4th quarter worth $31,000. Graham Capital Management L.P. bought a new stake in Inozyme Pharma in the 4th quarter worth about $33,000. Virtu Financial LLC purchased a new position in Inozyme Pharma in the 3rd quarter worth about $64,000. China Universal Asset Management Co. Ltd. bought a new position in Inozyme Pharma during the 4th quarter valued at about $38,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Inozyme Pharma during the 4th quarter valued at about $49,000. 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.