Jefferies Boosts PT on Infinity Pharmaceutical (INFI), Keeps Hold
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Price: $24.91 +2.43%
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade INFI Now!
Jefferies raised its price target on Infinity Pharmaceutical (NASDAQ: INFI) from $21 to $41 while maintaining a Hold rating following Q4 results.
The firm comments, "Wider 4Q12 loss of ~$47M (vs. our loss estimate of ~$29M); cash of $327M at YE12 sufficient into ~2015. With expanding cohorts in Ph1/2a, timing for Ph3 start is likely in ~2014. INFI's rising valuation implies IPI-145 sales potential at >~$3B; however, given evolving competitive field with several promising products well ahead of IPI-145, speedy, comprehensive development strategy is key to realizing its commercial potential."
The firm cut FY13 EPS form $0.33 to $0.12.
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 $45.14 yesterday, with a 52 week range of $7.83-$46.53.
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The firm comments, "Wider 4Q12 loss of ~$47M (vs. our loss estimate of ~$29M); cash of $327M at YE12 sufficient into ~2015. With expanding cohorts in Ph1/2a, timing for Ph3 start is likely in ~2014. INFI's rising valuation implies IPI-145 sales potential at >~$3B; however, given evolving competitive field with several promising products well ahead of IPI-145, speedy, comprehensive development strategy is key to realizing its commercial potential."
The firm cut FY13 EPS form $0.33 to $0.12.
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 $45.14 yesterday, with a 52 week range of $7.83-$46.53.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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