Jefferies Upgrades Infinity Pharmaceutical (INFI) to Buy
- Market Wrap: Exting Sales Lag in Nov.; Achillion Ramps on ACH-3102, -3422 Results; Gilead Hit on Hep C Snub
- Gilead (GILD) Tanks; Analyst Comments on Express Scripts (ESRX) Viekira Pak Announcement (ABBV)
- After-Hours Stock Movers 12/22: (PRLS) (VNDA) (CHK) Higher; (SCS) (LHO) Lower (more...)
- Steelcase Inc. (SCS) Tops Q3 EPS by 3c, Offers Guidance
- Twitter (TWTR) Active on Renewed Dick Costolo Chatter
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
- UPDATE: Janney Capital Downgrades Finish Line (FINL) to Neutral
- H.C. Wainwright Starts Allied Nevada Gold (ANV) at Buy (Earlier)
- Deutsche Bank Starts Axalta Coating Systems (AXTA) at Buy
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!