Inozyme Pharma (NASDAQ:INZY) Rating Reiterated by Wedbush

Wedbush reiterated their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY – Free Report) in a research report report published on Tuesday morning, RTT News reports. They currently have a $15.00 target price on the stock. Wedbush also issued estimates for Inozyme Pharma’s FY2023 earnings at ($1.32) EPS, Q1 2024 earnings at ($0.33) EPS, Q2 2024 earnings at ($0.36) EPS, Q3 2024 earnings at ($0.38) EPS, Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($1.45) EPS, FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($1.34) EPS and FY2027 earnings at $0.20 EPS.

A number of other research analysts have also issued reports on INZY. HC Wainwright dropped their price objective on shares of Inozyme Pharma from $19.00 to $16.00 and set a buy rating for the company in a report on Friday, August 4th. Needham & Company LLC reiterated a buy rating and issued a $23.00 price objective on shares of Inozyme Pharma in a report on Wednesday, September 27th.

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Inozyme Pharma Stock Performance

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Inozyme Pharma stock opened at $2.90 on Tuesday. Inozyme Pharma has a 12-month low of $0.99 and a 12-month high of $7.33. The company has a quick ratio of 11.89, a current ratio of 16.36 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $3.75 and its two-hundred day moving average price is $5.01. The stock has a market cap of $179.02 million, a PE ratio of -1.99 and a beta of 1.11.

Inozyme Pharma (NASDAQ:INZY – Get Free Report) last released its earnings results on Tuesday, August 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. As a group, analysts expect that Inozyme Pharma will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Inozyme Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INZY. BlackRock Inc. raised its holdings in Inozyme Pharma by 329.9% during the 2nd quarter. BlackRock Inc. now owns 1,939,660 shares of the company’s stock worth $10,804,000 after purchasing an additional 1,488,467 shares during the last quarter. FMR LLC bought a new position in Inozyme Pharma during the 1st quarter worth approximately $4,028,000. Samsara BioCapital LLC bought a new position in Inozyme Pharma during the 1st quarter worth approximately $2,890,000. State Street Corp raised its holdings in Inozyme Pharma by 472.0% during the 2nd quarter. State Street Corp now owns 560,842 shares of the company’s stock worth $3,124,000 after purchasing an additional 462,787 shares during the last quarter. Finally, Sphera Funds Management LTD. raised its holdings in Inozyme Pharma by 38.3% during the 4th quarter. Sphera Funds Management LTD. now owns 1,625,058 shares of the company’s stock worth $1,706,000 after purchasing an additional 450,000 shares during the last quarter. Institutional investors and hedge funds own 72.03% of the company’s stock.

About Inozyme Pharma

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Inozyme Pharma, Inc, a clinical-stage biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases in the United States. The company’s lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein, which is in Phase 1/2 clinical trials for the treatment of ENPP1 and ABCC6 deficiency, as well as for the treatment of calciphylaxis.