Needham & Company LLC Downgrades Inozyme Pharma (NASDAQ:INZY) to Hold

Inozyme Pharma (NASDAQ:INZY) was downgraded by analysts at Needham & Company LLC from a “moderate buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group restated a “hold” rating and issued a $4.00 target price (down previously from $15.00) on shares of Inozyme Pharma in a report on Friday. Wells Fargo & Company restated an “equal weight” rating and issued a $4.00 target price on shares of Inozyme Pharma in a report on Friday. Wedbush restated an “outperform” rating and issued a $7.00 target price (down previously from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Inozyme Pharma in a report on Thursday, April 10th. Finally, Piper Sandler dropped their target price on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.75.

Inozyme Pharma Stock Up 178.2%

Shares of NASDAQ:INZY opened at $3.95 on Friday. The business’s 50 day simple moving average is $1.09 and its two-hundred day simple moving average is $1.87. The firm has a market cap of $255.02 million, a P/E ratio of -2.53 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. Inozyme Pharma has a 52-week low of $0.72 and a 52-week 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 the consensus estimate of ($0.43) by ($0.01). As a group, research analysts forecast that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Trading of Inozyme Pharma

Large investors have recently bought and sold shares of the company. Harvest Investment Services LLC purchased a new stake in Inozyme Pharma in the fourth quarter worth $31,000. Graham Capital Management L.P. purchased a new position in shares of Inozyme Pharma in the fourth quarter valued at $33,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Inozyme Pharma in the fourth quarter valued at $38,000. ProShare Advisors LLC purchased a new position in shares of Inozyme Pharma in the fourth quarter valued at $49,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Inozyme Pharma in the fourth quarter valued at $49,000. 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.