Piper Jaffray Gives BioPharma Weekly Outlook

Alexza Pharmaceuticals

PDUFA date for AZ-004 is today. Piper expects approval based on two highly positive studies in acute agitation in bipolar and schizophrenic patients, but is cautious about ALXA shares post approval due to a likely slow sales ramp. Piper has an Overweight rating with a $3.50 price target on ALXA Today Infinity Pharmaceuticals

presents data from a Phase I solid tumor study of its oral hedgehog inhibitor IPI-926 at the ECCO-ESMO meeting in Milan over the weekend. We believe IPI-926 is emerging as the next valuable asset in Infinity's pipeline. Piper has a Neutral rating on INFI with a $6.50 price target ALXA closed Friday at $3.03 INFI closed Friday at $5.68