Oppenheimer Has Lowered Expectations for InflaRx (NASDAQ:IFRX) Stock Price

InflaRx (NASDAQ:IFRX) had its target price cut by equities researchers at Oppenheimer from $6.00 to $3.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 272.67% from the company’s previous close.

IFRX has been the subject of several other reports. Raymond James lowered shares of InflaRx from a “strong-buy” rating to an “outperform” rating and set a $2.00 target price for the company. in a research report on Thursday. Cantor Fitzgerald started coverage on shares of InflaRx in a research report on Tuesday, April 29th. They issued an “overweight” rating and a $10.00 target price for the company. Guggenheim upped their price target on shares of InflaRx from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of InflaRx in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.60.

InflaRx Stock Performance

InflaRx stock opened at $0.81 on Thursday. InflaRx has a fifty-two week low of $0.71 and a fifty-two week high of $2.82. The firm’s fifty day moving average price is $1.33 and its 200-day moving average price is $1.82. The stock has a market cap of $54.04 million, a P/E ratio of -0.75 and a beta of 1.57.

InflaRx (NASDAQ:IFRX) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.04. InflaRx had a negative net margin of 33,362.70% and a negative return on equity of 65.98%. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.03 million. Sell-side analysts predict that InflaRx will post -1.04 earnings per share for the current year.

Institutional Trading of InflaRx

Several institutional investors have recently added to or reduced their stakes in IFRX. Woodline Partners LP purchased a new stake in InflaRx during the first quarter valued at about $766,000. Raymond James Financial Inc. purchased a new stake in shares of InflaRx during the fourth quarter worth about $1,576,000. Northern Trust Corp boosted its holdings in shares of InflaRx by 1,933.1% during the fourth quarter. Northern Trust Corp now owns 666,845 shares of the company’s stock worth $1,647,000 after purchasing an additional 634,045 shares during the period. 683 Capital Management LLC boosted its holdings in shares of InflaRx by 26.8% during the first quarter. 683 Capital Management LLC now owns 2,625,000 shares of the company’s stock worth $2,678,000 after purchasing an additional 555,000 shares during the period. Finally, DAFNA Capital Management LLC purchased a new stake in shares of InflaRx during the first quarter worth about $459,000. 42.39% of the stock is currently owned by hedge funds and other institutional investors.

InflaRx Company Profile

InflaRx N.V., a clinical-stage biopharmaceutical company, discovers and develops inhibitors using C5a technology in Germany and the United States. The company's C5a is an inflammatory mediator that is involved in the progression of a variety of autoimmune and other inflammatory diseases. Its lead product candidate is vilobelimab, a novel intravenously delivered first-in-class anti-C5a monoclonal antibody, which completed the Phase III clinical trial for the treatment of hidradenitis suppurativa, a rare and chronic debilitating systemic inflammatory skin disease; for the treatment of anti-neutrophil cytoplasm antibody associated vasculitis, a rare and life-threatening autoimmune disease that is in Phase II trial; to treat pyoderma gangraenosum, a chronic inflammatory skin disorder that is in Phase IIa exploratory study; and for the treatment of PD-1/PD-L1 inhibitor resistant/refractory locally advanced or metastatic cutaneous squamous cell carcinoma that is in Phase II clinical development stage.