Infinity Pharmaceuticals Receives Overweight Rating from JPMorgan Chase (INFI)
Infinity Pharmaceuticals (NASDAQ: INFI)‘s stock had its “overweight” rating restated by analysts at JPMorgan Chase in a research report issued to clients and investors on Wednesday. They currently have a $53.00 price target on the stock, up from their previous price target of $42.00.
The analysts wrote, “INFI reported 4Q results and while the financials were uneventful, there was an encouraging incremental clinical update regarding IPI-145 (for hematologic cancers). INFI announced that it has reached a maximum tolerated dose (MTD) in the ongoing Phase 1 trial and has begun five additional expansion cohorts. We are encouraged by this as it relieves some timing pressure regarding the competition and the dose limiting toxicity was not neutropenia (for which there had been some concern from investors).”
A number of other analysts have also recently weighed in on INFI. Analysts at RBC Capital raised their price target on shares of Infinity Pharmaceuticals from $38.00 to $55.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Infinity Pharmaceuticals from $39.00 to $50.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Infinity Pharmaceuticals in a research note to investors on Wednesday. They now have a $41.00 price target on the stock, up previously from $21.00.
Shares of Infinity Pharmaceuticals traded up 3.21% during mid-day trading on Wednesday, hitting $46.59. Infinity Pharmaceuticals has a one year low of $7.98 and a one year high of $46.81. The stock’s 50-day moving average is currently $37.10. The company’s market cap is $1.839 billion.
Infinity Pharmaceuticals, Inc. (IPI) is a drug discovery and development company. The Company’s lead product candidate, IPI-504 (retaspimycin hydrochloride), is an intravenously administered small molecule inhibitor of heat shock protein 90 (Hsp90).
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