JonesTrading analyst Soumit Roy reiterated a Buy rating on Infinity Pharma (INFI) today and set a price target of $3.50. The company’s shares opened today at $1.56.
Roy commented:
“Infinity’s 2Q earnings provided minimal updates (press release HERE) – we expect to see mature Phase 1b MARIO-1 data in 1H20. The Phase 1 trial has enrolled late line patients, and despite IPI-549 being in Opdivo combination, we will be focusing less on the response rate in the entire patient set and more on MDSC in mid to high level patients. We expect to see a meaningful reduction in the MDSC levels and the readout for MDSC levels to be comparable to CheckMate-275 data.”
According to TipRanks.com, Roy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -20.5% and a 17.6% success rate. Roy covers the Healthcare sector, focusing on stocks such as Neon Therapeutics Inc, Surface Oncology Inc, and Mirati Therapeutics.
Currently, the analyst consensus on Infinity Pharma is a Moderate Buy with an average price target of $3.25.
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The company has a one-year high of $2.92 and a one-year low of $1. Currently, Infinity Pharma has an average volume of 77.3K.
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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.
