Inozyme Pharma, Inc. (NASDAQ:INZY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Inozyme Pharma, Inc. (NASDAQ:INZY) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.75.

Several brokerages have recently issued reports on INZY. Needham & Company LLC downgraded Inozyme Pharma from a “moderate buy” rating to a “hold” rating in a research report on Friday. Piper Sandler reduced their price objective on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating on the stock in a research 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 research report on Friday. Raymond James reduced their price objective 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. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Inozyme Pharma in a research report on Thursday, April 10th.

Inozyme Pharma Price Performance

INZY stock opened at $3.99 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. The firm has a market capitalization of $257.60 million, a P/E ratio of -2.56 and a beta of 1.35. The business’s 50-day moving average is $1.15 and its two-hundred day moving average is $1.85. Inozyme Pharma has a 1 year low of $0.72 and a 1 year high of $6.24.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Inozyme Pharma by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock worth $151,000 after purchasing an additional 6,851 shares in the last quarter. Palumbo Wealth Management LLC increased its position in shares of Inozyme Pharma by 52.3% in the fourth quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock valued at $64,000 after acquiring an additional 7,995 shares during the last quarter. American Century Companies Inc. increased its position in shares of Inozyme Pharma by 11.6% in the fourth quarter. American Century Companies Inc. now owns 79,349 shares of the company’s stock valued at $220,000 after acquiring an additional 8,263 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Inozyme Pharma by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,179,622 shares of the company’s stock valued at $3,268,000 after acquiring an additional 8,450 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Inozyme Pharma by 29.1% in the fourth quarter. Deutsche Bank AG now owns 40,215 shares of the company’s stock valued at $111,000 after acquiring an additional 9,055 shares during the last quarter. Institutional investors and hedge funds 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.