Infinity Pharmaceutical (INFI) Bounces after Vicious Sell-Off

June 4, 2013 8:46 AM EDT
Get Alerts INFI Hot Sheet
Price: $2.00 +29.03%

Rating Summary:
    7 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade INFI Now!
Join SI Premium – FREE
After getting slammed 39% Monday following disappointing data at ASCO, Infinity Pharmaceutical (NASDAQ: INFI) is bouncing back a little Tuesday morning as a number of analysts have come out to defend the stock and its IPI-145 drug.

Wells Fargo's Matthew Andrews reiterated an Outperform rating and $48-$50 valuation range. He commented, "While likely not completely addressing investors' concerns about '145's safety profile and its potential to be a primary contributing factor behind the emergence of serious infectious events, we believe the investigators' comments helped contextualize the challenges in managing heavily pre-treated iNHL and CLL patients with advanced disease and generally compromised immune systems. As a result, we believe prophylactic use of antibiotics such as Bactrim to prevent infections may be less of a commercial liability. With INFI announcing the initiation of a Phase II study in R/R iNHL and expansion of the ongoing Ph. I/II study to include treatmentnaïve, high-risk CLL patients, we emerged from the investor event more convinced that INFI has a viable strategy to get ‘145 to market as quickly as possible. We provide additional details on aspects of this strategy in the following bullets."

Analysts at Piper Jaffray and RBC also defended the stock.

For an analyst ratings summary and ratings history on Infinity Pharmaceutical click here. For more ratings news on Infinity Pharmaceutical click here.

Shares of Infinity Pharmaceutical closed at $16.41 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, FDA, Trader Talk

Related Entities

Piper Jaffray, Wells Fargo

Add Your Comment