B.Riley FBR analyst Madhu Kumar reiterated a Buy rating on InflaRx NV (NASDAQ: IFRX) yesterday and set a price target of $43. The company’s shares closed yesterday at $29.81.
Kumar wrote:
“This morning, InflaRx (IFRX) announced approval by the FDA to start Phase II studies of lead asset, complement C5a antibody IFX-1, in ANCA-associated vasculitis (AAV). While we view expansion of the pipeline to be a positive event for IFRX, we reiterate our belief that hidradenitis suppurativa (HS) remains the key value driver for IFRX shares. We thus reiterate our IFRX Buy rating and $43 price target.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 33.7% and a 55.0% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Clementia Pharmaceuticals Inc, Deciphera Pharmaceuticals Inc, and Iovance Biotherapeutics Inc.
Currently, the analyst consensus on InflaRx NV is a Strong Buy with an average price target of $46.67, implying a 56.6% upside from current levels. In a report released yesterday, SunTrust Robinson also initiated coverage with a Buy rating on the stock with a $55 price target.
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Based on InflaRx NV’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $13.78 million. In comparison, last year the company had a GAAP net loss of $4.05 million.
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InflaRx NV is a biopharmaceutical company, which engages in the discovery and development of inhibitors of the complement activation factor known as C5a. Its pipeline includes IFX-1 and IFX-2. The company was founded by Niels Christoph Riedemann, Renfeng Guo, and Nicolas Fulpius in December 2007 and is headquartered in Jena, Germany.