Inozyme Pharma (NASDAQ:INZY) Stock Rating Lowered by Needham & Company LLC

Inozyme Pharma (NASDAQ:INZY) was downgraded by research analysts at Needham & Company LLC from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

INZY has been the topic of a number of other reports. Piper Sandler reduced their price objective on shares of Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Jefferies Financial Group restated a “hold” rating and issued a $4.00 price objective (down from $15.00) on shares of Inozyme Pharma in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Inozyme Pharma in a research note on Thursday, April 10th. Raymond James cut their price target on shares of Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $4.00 price target on shares of Inozyme Pharma in a research note on Friday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.75.

Inozyme Pharma Price Performance

Inozyme Pharma stock opened at $3.95 on Friday. The firm has a market cap of $255.02 million, a PE ratio of -2.53 and a beta of 1.35. Inozyme Pharma has a 52-week low of $0.72 and a 52-week high of $6.24. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $1.09 and its two-hundred day moving average is $1.89.

Inozyme Pharma (NASDAQ:INZY) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). On average, research analysts expect that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Trading of Inozyme Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in INZY. Harvest Investment Services LLC purchased a new stake in shares of Inozyme Pharma in the fourth quarter valued at about $31,000. Graham Capital Management L.P. purchased a new stake in shares of Inozyme Pharma in the fourth quarter valued at about $33,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Inozyme Pharma in the fourth quarter valued at about $38,000. 49 Wealth Management LLC purchased a new stake in shares of Inozyme Pharma in the first quarter valued at about $38,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of Inozyme Pharma in the fourth quarter valued at about $49,000. Hedge funds and other 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.