UPDATE: Jefferies Raises PT on Infinity Pharmaceuticals on IPI-145 Sales Potential
In a report published Wednesday, Jefferies reiterated its Hold rating on Infinity Pharmaceuticals (NASDAQ: INFI), and raised its price target from $21.00 to $41.00.
Jefferies noted, “Wider 4Q12 loss of ~$47M (vs. our loss estimate of ~$29M); cash of $327M at YE12 sufficient into ~2015. With expanding cohorts in Ph1/2a, timing for Ph3 start is likely in ~2014. INFI's rising valuation implies IPI-145 sales potential at >~$3B; however, given evolving competitive field with several promising products well ahead of IPI-145, speedy, comprehensive development strategy is key to realizing its commercial potential.”
Infinity Pharmaceuticals closed on Tuesday at $45.14.
Latest Ratings for INFI
|May 2015||Deutsche Bank||Initiates Coverage on||Buy|
|Jan 2015||Morgan Stanley||Downgrades||Overweight||Equalweight|
|Dec 2014||Credit Suisse||Upgrades||Neutral||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.