Infinity Pharmaceuticals Inc. (INFI) Upgraded by Zacks Investment Research to Buy
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $1.50 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 11.94% from the company’s current price.
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.”
Several other research firms also recently issued reports on INFI. Wedbush reissued a “neutral” rating and issued a $1.25 target price on shares of Infinity Pharmaceuticals in a research report on Tuesday, June 28th. FBR & Co reissued a “market perform” rating and issued a $2.00 target price on shares of Infinity Pharmaceuticals in a research report on Tuesday, June 28th. Finally, Morgan Stanley reissued a “hold” rating and issued a $1.00 target price on shares of Infinity Pharmaceuticals in a research report on Thursday, August 11th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $4.56.
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Infinity Pharmaceuticals (NASDAQ:INFI) traded up 3.73% during midday trading on Tuesday, reaching $1.39. The company’s stock had a trading volume of 90,475 shares. Infinity Pharmaceuticals has a one year low of $1.24 and a one year high of $10.85. The stock’s 50 day moving average price is $1.50 and its 200-day moving average price is $2.98. The stock has a market cap of $68.93 million, a price-to-earnings ratio of 4.47 and a beta of 1.89.
Infinity Pharmaceuticals (NASDAQ:INFI) last issued 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 business 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 business’s quarterly revenue was up 94.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.78) earnings per share. On average, analysts forecast that Infinity Pharmaceuticals will post ($1.53) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in Infinity Pharmaceuticals by 51.7% in the second quarter. Rhumbline Advisers now owns 81,889 shares of the company’s stock valued at $109,000 after buying an additional 27,897 shares during the last quarter. Evercore Wealth Management LLC raised its stake in 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 last quarter. BlackRock Inc. raised its stake in Infinity Pharmaceuticals by 3,199.4% in the second quarter. BlackRock Inc. now owns 107,958 shares of the company’s stock valued at $143,000 after buying an additional 104,686 shares during the last quarter. Alliancebernstein L.P. raised its stake in Infinity Pharmaceuticals by 62.1% in the second quarter. Alliancebernstein L.P. now owns 112,210 shares of the company’s stock valued at $149,000 after buying an additional 43,000 shares during the last quarter. Finally, A.R.T. Advisors LLC acquired a new stake in Infinity Pharmaceuticals during the second quarter valued at approximately $210,000. 80.86% of the stock is currently owned by institutional investors.
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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