Jefferies Upgrades Infinity Pharmaceutical (INFI) to Buy
- McDonald's (MCD): Steve Easterbrook to Replace Thompson as CEO
- Market Wrap: Fed's Patience Tests Markets; Greece Takes Stand on Bailout; Qualcomm's Outlook Dims
- Facebook (FB) Tops Q4 EPS by 6c
- Apple (AAPL) Tops Q1 EPS by 46c, Sales Beat
- After-Hours Stock Movers 01/28: (MLNX) (FLEX) (MCD) Higher; (GEVO) (CLB) (QCOM) (FB) Lower (more...)
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
- Credit Suisse Downgrades Open Text (OTEX) to Neutral
- Apple (AAPL) PT Raised to 'Street-High' $160 at Cantor Fitzgerald
- Ultimate Software (ULTI) Price Target Lifted to $162 at Wedbush Ahead of Q4 Print
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!