Market Overview

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

Share:
Related INFI
Mid-Afternoon Market Update: GNC Gains On Upbeat Earnings; Barracuda Shares Drop
Mid-Morning Market Update: Markets Open Lower; Goldman Sachs Earnings Miss Estimates

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 2016William BlairDowngradesOutperformMarket Perform
Jun 2016JefferiesDowngradesBuyHold
Jun 2016Morgan StanleyDowngradesOverweightEqual-Weight

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

 

Related Articles (INFI)

View Comments and Join the Discussion!