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

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They presently have a $23.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 400.00% from the company’s previous close.

Several other analysts also recently commented on the stock. Bank of America reduced their price target on shares of Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Inozyme Pharma in a report on Wednesday, March 13th. Finally, Wedbush reiterated an “outperform” rating and set a $15.00 target price on shares of Inozyme Pharma in a research note on Tuesday.

Inozyme Pharma Stock Down 5.7 %

Inozyme Pharma stock opened at $4.60 on Wednesday. The company has a market capitalization of $284.56 million, a P/E ratio of -3.31 and a beta of 1.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 13.36 and a current ratio of 13.36. Inozyme Pharma has a fifty-two week low of $2.69 and a fifty-two week high of $7.80. The stock has a 50-day simple moving average of $5.66 and a 200-day simple moving average of $4.75.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). Equities research analysts expect that Inozyme Pharma will post -1.46 earnings per share for the current year.

Insider Activity at Inozyme Pharma

In other news, CEO Douglas A. Treco sold 7,523 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $6.94, for a total value of $52,209.62. Following the completion of the sale, the chief executive officer now owns 20,665 shares in the company, valued at approximately $143,415.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Inozyme Pharma in the third quarter valued at $41,000. Values First Advisors Inc. purchased a new position in shares of Inozyme Pharma in the 4th quarter valued at about $59,000. SG Americas Securities LLC acquired a new stake in shares of Inozyme Pharma in the third quarter valued at about $61,000. Superstring Capital Management LP purchased a new stake in Inozyme Pharma during the fourth quarter worth about $528,000. Finally, Schonfeld Strategic Advisors LLC grew its position in Inozyme Pharma by 346.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 311,880 shares of the company’s stock worth $1,310,000 after buying an additional 242,080 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

Inozyme Pharma Company Profile

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.