Needham & Company LLC Cuts Inozyme Pharma (NASDAQ:INZY) Price Target to $12.00

Inozyme Pharma (NASDAQ:INZY) had its target price lowered by equities researchers at Needham & Company LLC from $15.00 to $12.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Inozyme Pharma in a report on Thursday, April 10th. Piper Sandler dropped their price objective on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Wedbush restated an “outperform” rating and set a $7.00 price objective (down from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th. Finally, Raymond James dropped their price objective on Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Inozyme Pharma presently has a consensus rating of “Buy” and a consensus price target of $14.25.

Inozyme Pharma Trading Up 5.2%

Shares of Inozyme Pharma stock opened at $1.42 on Wednesday. Inozyme Pharma has a fifty-two week low of $0.72 and a fifty-two week high of $6.24. The firm has a market cap of $91.68 million, a PE ratio of -0.91 and a beta of 1.35. The business’s fifty day moving average is $1.03 and its two-hundred day moving average is $1.90. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly earnings results 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). Analysts anticipate that Inozyme Pharma will post -1.59 earnings per share for the current year.

Institutional Trading of Inozyme Pharma

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of Inozyme Pharma by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after acquiring an additional 6,851 shares in the last quarter. Palumbo Wealth Management LLC lifted its position in shares of Inozyme Pharma by 52.3% during the fourth quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock worth $64,000 after purchasing an additional 7,995 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Inozyme Pharma by 11.6% during the fourth quarter. American Century Companies Inc. now owns 79,349 shares of the company’s stock worth $220,000 after purchasing an additional 8,263 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Inozyme Pharma by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,179,622 shares of the company’s stock worth $3,268,000 after purchasing an additional 8,450 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Inozyme Pharma by 29.1% during the fourth quarter. Deutsche Bank AG now owns 40,215 shares of the company’s stock worth $111,000 after purchasing an additional 9,055 shares during the last quarter. 88.30% of the stock is currently 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.