Inozyme Pharma’s (INZY) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a report published on Monday morning,RTT News reports. Wedbush currently has a $7.00 target price on the stock, down from their prior target price of $12.00.

Other equities research analysts also recently issued research reports about the company. HC Wainwright boosted their price objective on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, January 10th. Raymond James initiated coverage on Inozyme Pharma in a research report on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price on the stock. Wells Fargo & Company lowered their price target 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. Finally, Piper Sandler dropped their price target on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Inozyme Pharma has an average rating of “Buy” and an average price target of $14.56.

Inozyme Pharma Stock Up 1.9 %

Shares of Inozyme Pharma stock opened at $1.08 on Monday. The stock’s 50-day moving average is $1.52 and its 200 day moving average is $3.28. The firm has a market cap of $69.38 million, a price-to-earnings ratio of -0.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. Inozyme Pharma has a one year low of $0.98 and a one year high of $7.80.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Harvest Investment Services LLC purchased a new stake in Inozyme Pharma in the fourth quarter valued at approximately $31,000. Graham Capital Management L.P. bought a new position in shares of Inozyme Pharma during the fourth quarter valued at approximately $33,000. China Universal Asset Management Co. Ltd. bought a new position in Inozyme Pharma in the fourth quarter worth about $38,000. D. E. Shaw & Co. Inc. purchased a new position in Inozyme Pharma during the fourth quarter valued at $49,000. Finally, ProShare Advisors LLC bought a new position in shares of Inozyme Pharma during the fourth quarter valued at approximately $49,000. Hedge funds and other 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.