Inozyme Pharma’s (INZY) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research note issued to investors on Thursday,Benzinga reports. HC Wainwright currently has a $16.00 target price on the stock.

A number of other research firms have also recently weighed in on INZY. Wedbush restated an “outperform” rating and set a $7.00 price objective (down from $12.00) on shares of Inozyme Pharma in a research report on Monday, March 10th. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Inozyme Pharma in a report on Tuesday, April 8th. Wells Fargo & Company cut their price target on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, January 13th. 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. Finally, Raymond James cut their target price on Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $14.63.

Inozyme Pharma Trading Up 0.6 %

Shares of Inozyme Pharma stock opened at $0.89 on Thursday. The company has a market cap of $56.92 million, a P/E ratio of -0.57 and a beta of 1.39. Inozyme Pharma has a fifty-two week low of $0.72 and a fifty-two week high of $6.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. The firm has a 50-day simple moving average of $1.10 and a two-hundred day simple moving average of $2.54.

Hedge Funds Weigh In On Inozyme Pharma

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Inozyme Pharma by 5.0% during the 3rd quarter. State Street Corp now owns 1,050,420 shares of the company’s stock worth $5,494,000 after buying an additional 50,386 shares during the last quarter. Wellington Management Group LLP lifted its position in Inozyme Pharma by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 260,719 shares of the company’s stock worth $1,364,000 after acquiring an additional 27,739 shares during the period. Jane Street Group LLC lifted its holdings in shares of Inozyme Pharma by 7.5% during the third quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after purchasing an additional 3,443 shares during the period. Barclays PLC lifted its stake in shares of Inozyme Pharma by 261.4% in the 3rd quarter. Barclays PLC now owns 76,730 shares of the company’s stock worth $401,000 after acquiring an additional 55,497 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Inozyme Pharma by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock valued at $6,126,000 after purchasing an additional 19,499 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

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.