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Mixed Response on Infinity Pharma as Shares Plunge Amid Phase I Data

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In reports published on Monday, Wells Fargo analyst Matthew Andrews and Piper Jaffray analyst Ian Somaiya had mixed responses on Infinity Pharma (NASDAQ: INFI) CLL drug data.

Wells Fargo calls the data "Very Solid" as its Phase 1/2 data on IPI-145 in chronic lymphocytic leukemia (CLL) continued to demonstrate "competitive efficacy profile" and tolerable safety profile. In addition, Infinity is seen to have taken appropriate steps to address a few new infectious/respiratory side effects that may raise investor concerns in N-T. Andrews gave Infinity an Outperform rating with price target at $46.50.

Piper Jaffray calls data "disappointing" as IPI-145 in CLL may disappoint investors with lack of improvement in response rates even after longer treatment duration. Analyst Ian Somaiya reiterated an Overweight rating on Infinity with price target at $50.00.

Shares of Infinity Pharma were down more than 25 percent Monday and at the time of publication shares of Infinity Pharma traded around $19.41.

Latest Ratings for INFI

DateFirmActionFromTo
Jun 2016Morgan StanleyDowngradesOverweightEqual-weight
Jun 2016JefferiesDowngradesBuyHold
Jun 2016Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for INFI
View the Latest Analyst Ratings

Posted-In: Ian Somaiya Matthew Andrews Piper Jaffray Wells FargoAnalyst Color Price Target Reiteration Analyst Ratings

 

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