Inozyme Pharma (NASDAQ:INZY) Announces Quarterly Earnings Results

Inozyme Pharma (NASDAQ:INZY) announced its earnings results on Tuesday. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.05, Zacks reports.

Inozyme Pharma Price Performance

Shares of Inozyme Pharma stock traded down $0.06 on Thursday, hitting $4.17. The company’s stock had a trading volume of 225,946 shares, compared to its average volume of 417,303. The company has a debt-to-equity ratio of 0.48, a quick ratio of 9.84 and a current ratio of 9.84. Inozyme Pharma has a 1 year low of $2.71 and a 1 year high of $7.80. The company has a market capitalization of $261.58 million, a price-to-earnings ratio of -2.90 and a beta of 1.54. The firm has a fifty day moving average price of $5.15 and a 200-day moving average price of $4.93.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INZY. Wedbush reaffirmed an “outperform” rating and set a $12.00 target price (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday. Stifel Nicolaus started coverage on Inozyme Pharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price objective for the company. Jefferies Financial Group reissued a “buy” rating and issued a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Inozyme Pharma in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $15.71.

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.