Infinity Pharmaceuticals Inc. (INFI) Raised to “Buy” at Zacks Investment Research
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $1.50 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 9.49% from the company’s previous close.
According to Zacks, “Infinity, a development-stage biopharmaceutical company, is focused on the development of treatments for difficult-to-treat diseases. Estimates have been mostly stable ahead of the company’s Q3 earnings release. Infinity received a huge blow when AbbVie decided to terminate the collaboration for the development and commercialization of Infinity’s lead pipeline candidate, duvelisib. With the termination of this agreement, Infinity has regained the global rights to the candidate. Currently, the company is exploring strategic options for the duvelisib program, including a potential sale of the same. Therefore, the company has refrained from giving an update on the nature and timing of regulatory filing of the candidate. Infinity also announced restructuring plans and cut approximately 66% of its workforce. Infinity is also moving with its planned development of other immuno-oncology candidate IPI-549 in multiple solid tumors.”
A number of other research analysts also recently issued reports on the company. Morgan Stanley restated a “hold” rating and set a $1.00 price target on shares of Infinity Pharmaceuticals in a research note on Thursday, August 11th. FBR & Co restated a “hold” rating on shares of Infinity Pharmaceuticals in a research note on Wednesday, August 10th. Finally, Wedbush restated a “neutral” rating and set a $1.00 price target (down previously from $1.25) on shares of Infinity Pharmaceuticals in a research note on Tuesday, August 9th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $4.56.
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Shares of Infinity Pharmaceuticals (NASDAQ:INFI) traded up 2.24% on Tuesday, hitting $1.37. The stock had a trading volume of 146,963 shares. The company has a market cap of $67.93 million, a price-to-earnings ratio of 4.41 and a beta of 1.89. Infinity Pharmaceuticals has a one year low of $1.24 and a one year high of $10.85. The firm’s 50-day moving average is $1.49 and its 200-day moving average is $2.95.
Infinity Pharmaceuticals (NASDAQ:INFI) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.94. The firm had revenue of $9.47 million for the quarter, compared to the consensus estimate of $13.91 million. Infinity Pharmaceuticals had a negative return on equity of 55.51% and a net margin of 13.23%. The firm’s quarterly revenue was up 94.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.78) EPS. On average, analysts expect that Infinity Pharmaceuticals will post ($1.53) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Evercore Wealth Management LLC increased its position in shares of Infinity Pharmaceuticals by 14.0% in the second quarter. Evercore Wealth Management LLC now owns 107,091 shares of the company’s stock valued at $142,000 after buying an additional 13,157 shares during the period. Numeric Investors LLC increased its position in shares of Infinity Pharmaceuticals by 699.4% in the second quarter. Numeric Investors LLC now owns 843,823 shares of the company’s stock valued at $1,122,000 after buying an additional 738,269 shares during the period. BVF Inc. IL bought a new position in shares of Infinity Pharmaceuticals during the second quarter valued at $6,896,000. A.R.T. Advisors LLC bought a new position in shares of Infinity Pharmaceuticals during the second quarter valued at $210,000. Finally, State Street Corp increased its position in shares of Infinity Pharmaceuticals by 18.3% in the second quarter. State Street Corp now owns 1,026,314 shares of the company’s stock valued at $1,367,000 after buying an additional 158,687 shares during the period. Institutional investors own 80.86% of the company’s stock.
Infinity Pharmaceuticals Company Profile
Infinity Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and delivery of medicines to treat diseases. The Company develops small molecule drugs that target disease pathways for potential applications in oncology. Its product candidate is duvelisib, also known as IPI-145, is an oral, dual-inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K), for the treatment of hematologic malignancies, or blood cancers.
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