UPDATE: Morgan Stanley Initiates Infinity Pharmaceuticals at Overweight on Blood Cancer Drug Data

Morgan Stanley initiated Infinity Pharmaceuticals

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.