UPDATE: Credit Suisse Downgrades Infinity Pharmaceuticals on Limited Clinical News in 2014

In a report published Thursday, Credit Suisse analyst Jason Kantor downgraded the rating on

from Outperform to Neutral, but reiterated the $20.00 price target. In the report, Credit Suisse noted, “We are downgrading INFI to Neutral because (1) limited clinical data is expected in 2014, (2) an increasingly complex competitive landscape, which we think is evolving to favor BTK inhibitors and ABT-199 over PI3K inhibitors; and (3) risk of class effect safety issues or drug specific safety issues, although initial concerns over infections and liver enzymes seem to have cooled down.” Infinity Pharmaceuticals closed on Wednesday at $13.31.