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

HC Wainwright reiterated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus initiated coverage on Inozyme Pharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $17.00 price target (up previously from $16.00) on shares of Inozyme Pharma in a research note on Tuesday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research note on Friday. Finally, Wedbush reiterated an “outperform” rating and issued a $15.00 price target on shares of Inozyme Pharma in a research note on Monday, September 30th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $16.14.

Inozyme Pharma Trading Down 2.4 %

NASDAQ:INZY opened at $4.79 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.84 and a quick ratio of 9.84. The firm has a market capitalization of $300.48 million, a price-to-earnings ratio of -3.28 and a beta of 1.51. Inozyme Pharma has a one year low of $2.69 and a one year high of $7.80. The business has a fifty day moving average price of $5.29 and a 200-day moving average price of $4.95.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Inozyme Pharma by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after purchasing an additional 2,690 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Inozyme Pharma by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after acquiring an additional 5,673 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Inozyme Pharma in the 2nd quarter valued at about $52,000. Rhumbline Advisers lifted its holdings in shares of Inozyme Pharma by 22.0% in the 2nd quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock valued at $343,000 after acquiring an additional 13,867 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Inozyme Pharma by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 187,839 shares of the company’s stock valued at $838,000 after acquiring an additional 14,139 shares during the last quarter. 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.