B.Riley FBR Maintains a Buy Rating on Infinity Pharma (INFI)

In a report released today, George Zavoico from B.Riley FBR maintained a Buy rating on Infinity Pharma (INFI), with a price target of $4.50. The company’s shares closed yesterday at $1.57.

Zavoico said:

“Yesterday (7/30) morning, Infinity Pharmaceuticals, Inc. (INFI) announced its 2Q19 financial results and noted progress in the clinical development of its lead (and only) drug candidate, IPI-549. Notably, three clinical trials of IPI-549 in various combinations with other drugs and in several indications will begin in 3Q19 and usher in a new phase of clinical development that, we think, with positive results, will bring IPI-549 closer to a NDA and FDA approval. As of yesterday, Infinity initiated a pivotal Phase II trial (called “MARIO-275″) of IPI-549 in combination with nivolumab (Opdivo) as second-line therapy in checkpoint inhibitor (CPI)-naive patients with advanced urothelial (bladder) cancer.”

According to TipRanks.com, Zavoico is ranked 0 out of 5 stars with an average return of -4.9% and a 38.4% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, BioLife Solutions, and Arqule Inc.

Infinity Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $3.25, which is a 107.0% upside from current levels. In a report released yesterday, JonesTrading also reiterated a Buy rating on the stock with a $3.50 price target.

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Based on Infinity Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $10.51 million. In comparison, last year the company had a GAAP net loss of $6.96 million.

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Infinity Pharmaceuticals, Inc. operates as a biopharmaceutical company, which engages in discovering, developing and delivering medicines for people with cancer. It focuses on drug development. The company was founded by Steven H. Holtzman on March 22, 1995 and is headquartered in Cambridge, MA.