Market Overview

UPDATE: William Blair Initiates Coverage on Infinity Pharmaceuticals on Multiple Challenges Ahead

Related INFI
Infinity Announces Clinical And Preclincal Data For Duvelisib To Be Presented at ASH 2014 Annual Meeting
Infinity Reports Topline Data From Phase 2a Exploratory Study Of Duvelisib In Patients With Mild, Allergic Asthma

In a report published Tuesday, William Blair & Company analyst Y. Katherine Xu initiated coverage on Infinity Pharmaceuticals (NASDAQ: INFI) with a Market Perform rating and $21.00 price target.

In the report, William Blair & Company noted, “Infinity's IPI-145 is a follower to ibrutinib in a different class with much lower potential due to its profile, timing in development, and more intense competition, in our opinion. We rate Infinity Market Perform with a price target of $21 because 1) we believe that Infinity's lead asset, the PI3K delta and gamma dual inhibitor IPI-145, faces stiff competition in the B-cell malignancy market, being potentially the third entrant behind ibrutinib and Gilead's idelalisib; 2) although IPI-145 might emerge to be more efficacious than idelalisib and on par with ibrutinib, we believe our peak sales estimate of $2.1 billion based on the competitive landscape and its position in the race is fair at the moment; 3) we believe clinical, regulatory, and execution risks as well as onerous milestone and royalty obligations weigh on valuation; and 4) we have lower confidence in IPI-145's potential success in asthma and rheumatoid arthritis, or Retaspimycin in non–small-cell lung cancer. We estimate peak worldwide sales for IPI-145 at $2.1 billion with an 80% probability of success in CLL, 75% in NHL, and a 55% in T-cell lymphoma.”

Infinity Pharmaceuticals closed on Monday at $19.76.

Latest Ratings for INFI

DateFirmActionFromTo
Nov 2014NomuraMaintainsNeutral
Oct 2014Stifel NicolausInitiates Coverage onHold
Sep 2014JMP SecuritiesUpgradesMarket PerformMarket Outperform

View More Analyst Ratings for INFI
View the Latest Analyst Ratings

Posted-In: William Blair & Company Y. Katherine XuAnalyst Color Initiation Analyst Ratings

 

Related Articles (INFI)

Around the Web, We're Loving...

Get Benzinga's Newsletters