Inozyme Pharma (NASDAQ:INZY) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC downgraded shares of Inozyme Pharma (NASDAQ:INZY) from a moderate buy rating to a hold rating in a research report sent to investors on Friday,Zacks.com reports.

Several other equities analysts have also recently issued reports on INZY. Jefferies Financial Group reissued a “hold” rating and set a $4.00 target price (down from $15.00) on shares of Inozyme Pharma in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Inozyme Pharma in a research report on Thursday, April 10th. Wedbush reaffirmed an “outperform” rating and issued a $7.00 target price (down from $12.00) on shares of Inozyme Pharma in a research report on Monday, March 10th. Piper Sandler cut their target price on shares of Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $4.00 price target on shares of Inozyme Pharma in a research report on Friday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inozyme Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $11.75.

Inozyme Pharma Price Performance

INZY stock opened at $3.95 on Friday. The stock has a market capitalization of $255.02 million, a price-to-earnings ratio of -2.53 and a beta of 1.35. The firm’s 50-day moving average price is $1.09 and its two-hundred day moving average price is $1.86. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma has a 12-month low of $0.72 and a 12-month high of $6.24.

Inozyme Pharma (NASDAQ:INZY) last announced 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). As a group, equities analysts predict that Inozyme Pharma will post -1.59 earnings per share for the current year.

Hedge Funds Weigh In On Inozyme Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in shares of Inozyme Pharma in the 1st quarter worth approximately $72,000. ADAR1 Capital Management LLC raised its stake in Inozyme Pharma by 15.1% during the first quarter. ADAR1 Capital Management LLC now owns 87,799 shares of the company’s stock valued at $80,000 after buying an additional 11,500 shares during the last quarter. Pale Fire Capital SE boosted its holdings in Inozyme Pharma by 101.7% in the first quarter. Pale Fire Capital SE now owns 440,807 shares of the company’s stock worth $401,000 after acquiring an additional 222,270 shares in the last quarter. Aberdeen Group plc grew its stake in shares of Inozyme Pharma by 91.6% in the first quarter. Aberdeen Group plc now owns 326,758 shares of the company’s stock worth $297,000 after acquiring an additional 156,236 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Inozyme Pharma during the first quarter valued at $146,000. Institutional investors 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.