Jefferies Upgrades Infinity Pharmaceutical (INFI) to Buy

May 7, 2014 6:40 AM EDT Send to a Friend
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Price: $16.51 --0%

Rating Summary:
    10 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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).

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 $9.05 yesterday.

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