Home Market News Inozyme Pharma (NASDAQ:INZY) Stock Rating Lowered by Zacks Investment Research

Inozyme Pharma (NASDAQ:INZY) Stock Rating Lowered by Zacks Investment Research

by MarketBeat News

Inozyme Pharma (NASDAQ:INZY – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Inozyme Pharma Inc. is a biopharmaceutical company. It engages in developing therapeutics for treating abnormal mineralization impacting the vasculature, soft tissue and skeleton diseases. The company’s product candidate consist INZ-701, which is in clinical stage. Inozyme Pharma Inc. is based in Boston, Massachusetts. “

Several other analysts have also recently weighed in on INZY. Jefferies Financial Group began coverage on Inozyme Pharma in a report on Thursday. They issued a “hold” rating and a $5.00 price target on the stock. Wedbush lowered their price target on Inozyme Pharma from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. HC Wainwright began coverage on Inozyme Pharma in a report on Monday, February 7th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Needham & Company LLC began coverage on Inozyme Pharma in a report on Thursday, April 14th. They issued a “buy” rating and a $23.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $17.70.

NASDAQ INZY traded up $0.03 during trading hours on Friday, hitting $3.97. The company had a trading volume of 75,942 shares, compared to its average volume of 167,128. Inozyme Pharma has a 52 week low of $3.54 and a 52 week high of $19.58. The firm has a 50 day simple moving average of $4.25 and a 200 day simple moving average of $5.91. The firm has a market capitalization of $159.19 million, a price-to-earnings ratio of -1.51 and a beta of 1.12.

Inozyme Pharma (NASDAQ:INZY – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.11. Sell-side analysts forecast that Inozyme Pharma will post -2.33 earnings per share for the current year.

In other news, major shareholder Longitude Capital Partners Iii bought 1,355,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was bought at an average price of $3.69 per share, for a total transaction of $4,999,950.00. Following the transaction, the insider now directly owns 4,174,379 shares of the company’s stock, valued at approximately $15,403,458.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Lorne Hopfner acquired 1,070,000 shares of the stock in a transaction on Tuesday, April 19th. The stock was bought at an average price of $3.69 per share, with a total value of $3,948,300.00. Following the transaction, the director now directly owns 2,661,154 shares of the company’s stock, valued at approximately $9,819,658.26. The disclosure for this purchase can be found here. Insiders purchased a total of 2,519,850 shares of company stock valued at $9,298,247 in the last 90 days. 11.29% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Inozyme Pharma in the third quarter valued at approximately $135,000. BioImpact Capital LLC bought a new stake in Inozyme Pharma in the third quarter valued at approximately $3,717,000. Geode Capital Management LLC lifted its position in Inozyme Pharma by 10.5% in the third quarter. Geode Capital Management LLC now owns 198,624 shares of the company’s stock valued at $2,302,000 after purchasing an additional 18,952 shares during the last quarter. Laurion Capital Management LP bought a new stake in Inozyme Pharma in the third quarter valued at approximately $819,000. Finally, PDT Partners LLC bought a new stake in Inozyme Pharma in the first quarter valued at approximately $42,000.

About Inozyme Pharma (Get Rating)

Inozyme Pharma, Inc, a rare disease biopharmaceutical company, engages in developing therapeutics for treating abnormal mineralization impacting the vasculature, soft tissue, and skeleton diseases. The company’s lead product candidate is INZ-701, a soluble, recombinant protein to treat the rare genetic diseases of ENPP1 and ABCC6 deficiencies, as well as for the treatment of calciphylaxis.

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