HC Wainwright Equities Analysts Reduce 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 HC Wainwright reduced their Q3 2023 earnings estimates for shares of Inozyme Pharma in a research report issued to clients and investors on Tuesday, August 8th. HC Wainwright analyst E. White now forecasts that the company will post earnings of ($0.35) per share for the quarter, down from their previous estimate of ($0.31). HC Wainwright currently has a “Buy” rating and a $16.00 target price on the stock. The consensus estimate for Inozyme Pharma’s current full-year earnings is ($1.63) per share. HC Wainwright also issued estimates for Inozyme Pharma’s Q4 2023 earnings at ($0.36) EPS, FY2023 earnings at ($1.46) EPS, FY2024 earnings at ($1.63) EPS and FY2025 earnings at ($1.86) EPS.

Other research analysts have also recently issued reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Inozyme Pharma in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a report on Wednesday.

Get Our Latest Stock Report on INZY

Inozyme Pharma Stock Up 2.3 %

Shares of NASDAQ:INZY opened at $4.93 on Friday. Inozyme Pharma has a 52 week low of $0.99 and a 52 week high of $7.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 10.66 and a current ratio of 11.89. The company’s fifty day moving average is $5.67 and its 200-day moving average is $4.79. The company has a market capitalization of $304.33 million, a PE ratio of -3.18 and a beta of 0.98.

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

Insider Activity at Inozyme Pharma

In other news, Director Pivotal Bioventure Partners Fu acquired 833,333 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was purchased at an average cost of $4.80 per share, with a total value of $3,999,998.40. Following the acquisition, the director now owns 2,923,110 shares of the company’s stock, valued at approximately $14,030,928. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.88% of the stock is currently owned by company insiders.

Institutional Trading of Inozyme Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Inozyme Pharma by 62.7% during the 2nd quarter. Barclays PLC now owns 10,205 shares of the company’s stock worth $56,000 after purchasing an additional 3,932 shares during the last quarter. Bank of America Corp DE grew its position in shares of Inozyme Pharma by 62.5% during the 1st quarter. Bank of America Corp DE now owns 11,548 shares of the company’s stock worth $66,000 after buying an additional 4,443 shares during the period. Geode Capital Management LLC grew its position in shares of Inozyme Pharma by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 241,208 shares of the company’s stock worth $1,382,000 after buying an additional 8,082 shares during the period. Citigroup Inc. grew its position in shares of Inozyme Pharma by 241.6% during the 1st quarter. Citigroup Inc. now owns 12,517 shares of the company’s stock worth $51,000 after buying an additional 8,853 shares during the period. Finally, PDT Partners LLC acquired a new position in shares of Inozyme Pharma during the 1st quarter worth about $42,000. 82.21% of the stock is owned by institutional investors.

About Inozyme Pharma

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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.