Market Overview

UPDATE: Piper Jaffray Assumes Coverage on Infinity Pharmaceuticals, Upgrades to Overweight

Related INFI
38 Biggest Movers From Yesterday
32 Stocks Moving In Wednesday's Mid-Day Session

In a report published Friday, Piper Jaffray assumed coverage on Infinity Pharmaceuticals (NASDAQ: INFI), upgrading its rating from Neutral to Overweight, and raised its price target from $14.00 to $53.00.

Piper Jaffray noted, “We believe IPI-145 could compete in the multi-billion dollar markets being developed by Pharmacyclics' ibrutinib and Gilead's GS-1101 for hematological malignancies. We are projecting peak sales of $2bn+ in chronic lymphocytic leukemia (CLL), $150mn in mantle cell lymphoma (MCL), and $750mn in follicular lymphoma (FL). Similar to our PCYC thesis, we believe physicians are eager to move away from traditional chemotherapy drugs, and would embrace targeted therapies with relatively benign safety profiles, opening blockbuster opportunities for IPI-145. We expect updated Phase I/II data in hematological malignancies at ASCO (May 31-June 4) and ASH (Dec 7-10) to drive shares in 2013, with positive data in other disorders (i.e., MM, DLBCL, HL,allergic asthma, and RA) to provide further upside.”

Infinity Pharmaceuticals closed on Thursday at $41.33.

Latest Ratings for INFI

Oct 2017Wells FargoUpgradesMarket PerformOutperform
Jun 2016William BlairDowngradesOutperformMarket Perform
Jun 2016JefferiesDowngradesBuyHold

View More Analyst Ratings for INFI
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Upgrades Analyst Ratings


Related Articles (INFI)

View Comments and Join the Discussion!

Partner Center