Infinity Pharmaceuticals Trading Up 6.3% Following Earnings Beat (INFI)
Infinity Pharmaceuticals (NASDAQ:INFI) was up 6.3% during trading on Tuesday after the company announced better than expected quarterly earnings, Analyst Ratings News reports. The company traded as high as $9.94 and last traded at $9.94, with a volume of 332,535 shares trading hands. The stock had previously closed at $9.35.
The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.06. During the same quarter in the previous year, the company posted ($0.68) earnings per share. The company’s revenue for the quarter was up NaN% on a year-over-year basis.
A number of research firms have recently commented on INFI. Analysts at Morgan Stanley initiated coverage on shares of Infinity Pharmaceuticals in a research note on Wednesday, June 25th. They set an “overweight” rating and a $17.00 price target on the stock. Separately, analysts at Wedbush cut their price target on shares of Infinity Pharmaceuticals from $10.00 to $9.00 in a research note on Friday, May 9th. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Infinity Pharmaceuticals in a research note on Wednesday, May 7th. They now have a $20.00 price target on the stock, down previously from $25.00. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.11.
The stock’s 50-day moving average is $11.0 and its 200-day moving average is $11.60. The company’s market cap is $482.0 million.
Infinity Pharmaceuticals, Inc (NASDAQ:INFI) is a drug discovery and development company.
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