Infinity Pharmaceuticals (NASDAQ:INFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm presently has a $3.50 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.79% from the company’s current price.
According to Zacks, “Infinity Pharmaceuticals, Inc. is an innovative cancer drug discovery and development company that is seeking to leverage its strength in small molecule drug technologies to discover, develop, and deliver to patients best-in-class medicines for the treatment of cancer and related conditions. “
Other equities research analysts also recently issued research reports about the company. Truist Securities assumed coverage on Infinity Pharmaceuticals in a research report on Wednesday, March 24th. They set a “buy” rating and a $12.00 price target for the company. JPMorgan Chase & Co. raised Infinity Pharmaceuticals from an “underweight” rating to a “neutral” rating in a research note on Friday, February 5th. Wells Fargo & Company increased their target price on shares of Infinity Pharmaceuticals from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 23rd. Truist Financial started coverage on shares of Infinity Pharmaceuticals in a research report on Thursday, March 18th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Truist started coverage on shares of Infinity Pharmaceuticals in a research report on Thursday, March 18th. They issued a “buy” rating and a $12.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Infinity Pharmaceuticals presently has an average rating of “Buy” and an average target price of $8.31.
Infinity Pharmaceuticals (NASDAQ:INFI) last announced its quarterly earnings results on Monday, March 15th. The biotechnology company reported ($0.16) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Infinity Pharmaceuticals had a negative net margin of 2,592.65% and a negative return on equity of 1,358.77%. Equities analysts expect that Infinity Pharmaceuticals will post -0.67 earnings per share for the current year.
In other Infinity Pharmaceuticals news, major shareholder Bvf Partners L. P/Il sold 5,848,520 shares of the stock in a transaction that occurred on Friday, January 22nd. The shares were sold at an average price of $4.14, for a total value of $24,212,872.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.77% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Private Wealth Advisors Inc. purchased a new position in Infinity Pharmaceuticals in the 4th quarter valued at about $25,000. Morgan Stanley lifted its stake in shares of Infinity Pharmaceuticals by 268.9% in the third quarter. Morgan Stanley now owns 35,251 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 25,695 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Infinity Pharmaceuticals by 165,024.0% in the fourth quarter. JPMorgan Chase & Co. now owns 41,281 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 41,256 shares in the last quarter. Callan Capital LLC purchased a new position in Infinity Pharmaceuticals in the fourth quarter valued at about $155,000. Finally, BlackRock Inc. grew its stake in Infinity Pharmaceuticals by 0.6% during the 4th quarter. BlackRock Inc. now owns 976,446 shares of the biotechnology company’s stock valued at $2,071,000 after purchasing an additional 5,748 shares in the last quarter. Hedge funds and other institutional investors own 46.66% of the company’s stock.
About Infinity Pharmaceuticals
Infinity Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel medicines for people with cancer. It offers IPI-549, an orally administered, clinical-stage, immuno-oncology product candidate that selectively inhibits the enzyme phosphoinositide-3-kinase-gamma Its product candidate is IPI-549, an orally administered clinical-stage immuno-oncology product candidate that inhibits the enzyme phosphoinositide-3-kinase-gamma (PI3K-gamma), which is in Phase 1/1b clinical study.
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