Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) Issues Quarterly Earnings Results
Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) issued its earnings results on Thursday. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.12, Briefing.com reports. During the same quarter in the prior year, the firm posted $1.05 earnings per share.
Shares of Infinity Pharmaceuticals (NASDAQ:INFI) traded down 5.15% during trading on Friday, hitting $1.29. The stock had a trading volume of 444,243 shares. The company has a market cap of $65.07 million, a PE ratio of 645.00 and a beta of 2.60. The stock’s 50 day moving average is $1.57 and its 200-day moving average is $2.12. Infinity Pharmaceuticals has a 12-month low of $0.84 and a 12-month high of $3.84.
Several brokerages have issued reports on INFI. ValuEngine upgraded Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research cut Infinity Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Six analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $1.17.
A number of institutional investors have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC bought a new position in Infinity Pharmaceuticals during the first quarter valued at $106,000. Algert Global LLC acquired a new stake in shares of Infinity Pharmaceuticals during the first quarter worth approximately $129,000. LMR Partners LLP acquired a new stake in shares of Infinity Pharmaceuticals during the second quarter worth approximately $222,000. Wells Fargo & Company MN increased its stake in shares of Infinity Pharmaceuticals by 144.6% in the first quarter. Wells Fargo & Company MN now owns 81,493 shares of the biotechnology company’s stock worth $263,000 after buying an additional 48,177 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Infinity Pharmaceuticals by 19,074.1% in the first quarter. Citadel Advisors LLC now owns 86,522 shares of the biotechnology company’s stock worth $279,000 after buying an additional 86,978 shares in the last quarter. 75.48% of the stock is owned by institutional investors.
About Infinity Pharmaceuticals
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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