UPDATE: Morgan Stanley Initiates Infinity Pharmaceuticals at Overweight on Blood Cancer Drug Data
Morgan Stanley initiated Infinity Pharmaceuticals (NASDAQ: INFI) with an Overweight rating and a $47.00 price target.
Morgan Stanley noted, "Infinity's wholly-owned early stage IPI-145 for blood cancers has shown positive early data and is on track to figure significantly in an emerging BCR drug class with multi-billion dollar potential. 2013 holds multiple catalysts to further validate IPI-145's efficacy/safety."
Infinity Pharmaceuticals closed at $35.20 on Friday.
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