Wedbush Equities Analysts Lift Earnings Estimates for Inozyme Pharma, Inc. (NASDAQ:INZY)

Posted by Defense World Staff on Aug 12th, 2023

Inozyme Pharma, Inc. (NASDAQ:INZY – Free Report) – Analysts at Wedbush lifted their Q3 2023 EPS estimates for Inozyme Pharma in a note issued to investors on Tuesday, August 8th. Wedbush analyst D. Nierengarten now anticipates that the company will earn ($0.28) per share for the quarter, up from their prior estimate of ($0.32). Wedbush currently has a “Outperform” rating and a $15.00 price target on the stock. The consensus estimate for Inozyme Pharma’s current full-year earnings is ($1.63) per share. Wedbush also issued estimates for Inozyme Pharma’s Q4 2023 earnings at ($0.30) EPS, FY2023 earnings at ($1.30) EPS, FY2024 earnings at ($1.36) EPS, FY2025 earnings at ($1.33) EPS and FY2026 earnings at ($1.25) EPS.

Several other analysts have also recently issued reports on INZY. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a research report on Wednesday. HC Wainwright reduced their price target on shares of Inozyme Pharma from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 4th.

Read Our Latest Stock Analysis on INZY

Inozyme Pharma Trading Up 2.3 %

NASDAQ INZY opened at $4.93 on Friday. The firm’s 50-day moving average is $5.67 and its two-hundred day moving average is $4.79. Inozyme Pharma has a 12 month low of $0.99 and a 12 month high of $7.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 11.89 and a quick ratio of 10.66. The stock has a market capitalization of $304.33 million, a P/E ratio of -3.18 and a beta of 0.98.

Inozyme Pharma (NASDAQ:INZY – Get Free Report) last posted its earnings results on Tuesday, August 8th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08.

Insider Transactions at Inozyme Pharma

In other news, Director Pivotal Bioventure Partners Fu bought 833,333 shares of Inozyme Pharma stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average price of $4.80 per share, with a total value of $3,999,998.40. Following the completion of the acquisition, the director now directly owns 2,923,110 shares in the company, valued at $14,030,928. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.88% of the company’s stock.

Institutional Trading of Inozyme Pharma

Several hedge funds have recently added to or reduced their stakes in INZY. BlackRock Inc. raised its holdings in Inozyme Pharma by 329.9% in the second quarter. BlackRock Inc. now owns 1,939,660 shares of the company’s stock valued at $10,804,000 after acquiring an additional 1,488,467 shares in the last quarter. FMR LLC purchased a new position in Inozyme Pharma in the first quarter valued at approximately $4,028,000. Samsara BioCapital LLC purchased a new position in Inozyme Pharma in the first quarter valued at approximately $2,890,000. Sphera Funds Management LTD. increased its stake in Inozyme Pharma by 38.3% in the fourth quarter. Sphera Funds Management LTD. now owns 1,625,058 shares of the company’s stock valued at $1,706,000 after purchasing an additional 450,000 shares during the last quarter. Finally, Pivotal bioVenture Partners Investment Advisor LLC increased its stake in Inozyme Pharma by 13.9% in the second quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 3,661,518 shares of the company’s stock valued at $20,395,000 after purchasing an additional 447,932 shares during the last quarter. Institutional investors and hedge funds own 82.21% of the company’s stock.

Inozyme Pharma Company Profile

(Get Free Report)

Inozyme Pharma, Inc, a clinical-stage biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases in the United States. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein, which is in Phase 1/2 clinical trials for the treatment of ENPP1 and ABCC6 deficiency, as well as for the treatment of calciphylaxis.