Inozyme Pharma (NASDAQ:INZY) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Inozyme Pharma (NASDAQ:INZY) announced its quarterly earnings results on Wednesday. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.01), Zacks reports.

Inozyme Pharma Stock Performance

Shares of INZY stock opened at $1.42 on Friday. The firm has a market cap of $91.68 million, a price-to-earnings ratio of -0.91 and a beta of 1.35. The company’s 50 day moving average is $1.03 and its 200 day moving average is $1.90. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a 52-week low of $0.72 and a 52-week high of $6.24.

Hedge Funds Weigh In On Inozyme Pharma

A hedge fund recently bought a new stake in Inozyme Pharma stock. AQR Capital Management LLC purchased a new position in Inozyme Pharma, Inc. (NASDAQ:INZY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 79,077 shares of the company’s stock, valued at approximately $72,000. AQR Capital Management LLC owned about 0.12% of Inozyme Pharma at the end of the most recent quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Analyst Ratings Changes

INZY has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Inozyme Pharma in a research note on Thursday, April 10th. Raymond James lowered their target price on Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Needham & Company LLC lowered their target price on Inozyme Pharma from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler lowered their target price 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. Finally, Wedbush restated an “outperform” rating and set a $7.00 price target (down previously from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $14.25.

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.