Inozyme Pharma, Inc. (NASDAQ:INZY) Given Average Recommendation of “Buy” by Brokerages

Inozyme Pharma, Inc. (NASDAQ:INZY) has earned a consensus rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.14.

Several brokerages have issued reports on INZY. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a report on Friday. Stifel Nicolaus assumed coverage on shares of Inozyme Pharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Inozyme Pharma in a research report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Inozyme Pharma in a research report on Monday, September 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th.

Inozyme Pharma Trading Down 2.4 %

Shares of NASDAQ:INZY opened at $4.79 on Friday. Inozyme Pharma has a 52-week low of $2.69 and a 52-week high of $7.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 9.84 and a current ratio of 9.84. The company has a market capitalization of $300.48 million, a P/E ratio of -3.28 and a beta of 1.51. The company has a 50-day simple moving average of $5.29 and a 200 day simple moving average of $4.96.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Sell-side analysts forecast that Inozyme Pharma will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Inozyme Pharma

Several institutional investors have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C acquired a new position in Inozyme Pharma in the second quarter valued at about $52,000. Meeder Asset Management Inc. acquired a new position in shares of Inozyme Pharma in the 2nd quarter valued at approximately $68,000. Values First Advisors Inc. bought a new stake in shares of Inozyme Pharma during the 2nd quarter worth approximately $76,000. SG Americas Securities LLC acquired a new stake in shares of Inozyme Pharma during the 3rd quarter worth approximately $81,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Inozyme Pharma during the 2nd quarter worth approximately $84,000. 88.30% of the stock is currently owned by 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.