Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) was upgraded by equities researchers at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat.com reports.

Separately, ValuEngine raised shares of Infinity Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th.

Shares of Infinity Pharmaceuticals (NASDAQ INFI) opened at 2.90 on Thursday. The firm’s market cap is $147.00 million. Infinity Pharmaceuticals has a 52 week low of $0.84 and a 52 week high of $3.84. The firm has a 50-day moving average of $1.35 and a 200-day moving average of $1.64.

Infinity Pharmaceuticals (NASDAQ:INFI) last posted its earnings results on Thursday, August 3rd. 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). During the same period in the previous year, the company posted $1.05 EPS. On average, analysts expect that Infinity Pharmaceuticals will post ($0.92) EPS for the current year.

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In related news, insider Value Fund L. P. Biotechnology purchased 1,600,046 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were bought at an average cost of $1.26 per share, with a total value of $2,016,057.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.81% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Highbridge Capital Management LLC purchased a new stake in Infinity Pharmaceuticals during the first quarter valued at about $106,000. Zacks Investment Management purchased a new stake in Infinity Pharmaceuticals during the second quarter valued at about $101,000. Wells Fargo & Company MN lifted its holdings in Infinity Pharmaceuticals by 144.6% during the first quarter. Wells Fargo & Company MN now owns 81,493 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 48,177 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Infinity Pharmaceuticals during the second quarter valued at about $130,000. Finally, Citadel Advisors LLC lifted its holdings in Infinity Pharmaceuticals by 19,074.1% during the first quarter. Citadel Advisors LLC now owns 86,522 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 86,978 shares during the last quarter. 67.47% of the stock is currently owned by institutional investors and hedge funds.

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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