Zacks Investment Research Upgrades Inflarx (NASDAQ:IFRX) to Buy
Zacks Investment Research upgraded shares of Inflarx (NASDAQ:IFRX) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $3.75 price target on the stock.
According to Zacks, “InflaRx N.V. is a clinical-stage biopharmaceutical company. It focused on applying its proprietary anti-C5a technology to discover and develop first-in-class, potent and specific inhibitors of C5a. InflaRx N.V. is based in Germany. “
Other equities analysts have also issued research reports about the company. Raymond James set a $44.00 target price on Inflarx and gave the stock a buy rating in a research note on Friday, May 24th. ValuEngine upgraded Inflarx from a hold rating to a buy rating in a research note on Thursday, February 28th. Guggenheim initiated coverage on Inflarx in a research note on Friday, February 22nd. They issued a buy rating and a $65.00 target price for the company. SunTrust Banks lowered Inflarx from a buy rating to a hold rating and reduced their target price for the stock from $55.00 to $5.00 in a research note on Wednesday, June 5th. Finally, Svb Leerink lowered Inflarx from an outperform rating to a market perform rating in a research note on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Inflarx presently has an average rating of Hold and an average target price of $15.72.
Inflarx (NASDAQ:IFRX) last issued its earnings results on Thursday, March 28th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.02). As a group, analysts forecast that Inflarx will post -2.08 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Spark Investment Management LLC acquired a new stake in Inflarx during the 1st quarter worth about $359,000. Vanguard Group Inc. grew its position in Inflarx by 137.4% during the 3rd quarter. Vanguard Group Inc. now owns 162,460 shares of the company’s stock worth $5,576,000 after purchasing an additional 94,020 shares during the period. Paloma Partners Management Co acquired a new stake in Inflarx during the 4th quarter worth about $526,000. Essex Investment Management Co. LLC acquired a new stake in Inflarx during the 4th quarter worth about $798,000. Finally, RA Capital Management LLC grew its position in Inflarx by 6.0% during the 4th quarter. RA Capital Management LLC now owns 2,085,089 shares of the company’s stock worth $75,835,000 after purchasing an additional 117,241 shares during the period. 55.89% of the stock is currently owned by institutional investors.
InflaRx N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing inhibitors using C5a technology primarily in the United States and Europe. Its C5a is an inflammatory mediator involved in the enhancement of a variety of autoimmune and other inflammatory diseases. The company's lead product candidate is IFX-1, a novel intravenously delivered first-in-class anti-C5a monoclonal antibody that is in the Phase IIb clinical trial for the treatment of hidradenitis suppurativa, a rare and chronic debilitating systemic inflammatory skin disease; to treat ANCA-associated vasculitis, a rare and life-threatening autoimmune disease; and for the treatment of other chronic/autoimmune diseases.
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