Jefferies Upgrades Infinity Pharmaceutical (INFI) to Buy
- Fed Stress Test Shows all 31 Banks Exceed Minimum Requirements (JPM) (GS) (MS) (WFC) (BAC)
- Market Wrap: Banks Ace Stress Test; ECB Favorable on Outlook; Etsy Looks to go Public
- After-Hours Stock Movers 03/05: (CALA) (YY) (FNSR) Higher; (CKP) (EBS) (GPS) Lower (more...)
- AbbVie (ABBV) to Acquire Pharmacyclics (PCYC) for $21 Billion
- Wall Street Takes Sides Ahead of Apple Watch Event (AAPL)
Jefferies upgraded Infinity Pharmaceutical (NASDAQ: INFI) from Hold to Buy with a price target of $13.00 (from $15.00) citing attractive risk/reward.
Analyst Eun K. Yang, Ph.D commented, "Our concerns for INFI have been commercial competitiveness of IPI-145 in a rapidly evolving market. However, at current EV of ~$265M (>70% down from 52-wk high), such concerns are largely priced in for active product IPI-145 (likely clinical success). Thus, ahead of pivotal Ph2/3 data in r/r iNHL/CLL in ~2Q/3Q15, we view risk/rewards as attractive; upgrading to Buy."
The firm bumped FY 2014 EPS from ($3.40) to ($3.28) while cutting FY 2015 EPS from ($1.88) to ($2.01).
Shares of Infinity Pharmaceutical closed at $9.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Roth Capital Lifts PT, FY15 Ests on PowerSecure (POWR) Following Solid Q4 Report
- PowerSecure (POWR) PT Lifted to $17 at Northland Capital Markets
- Amedisys (AMED) PT Lifted to $28 at Piper Jaffray; 'Hold' Maintained
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Hot Upgrades, Upgrades
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!