Jefferies Raises Price Target on Infinity Pharmaceuticals (INFI)

Jefferies analysts raised their price target on Infinity Pharmaceuticals (NASDAQ: INFI) from $11.00 to $15.00 while maintaining a BUY rating on the company.

Infinity Pharmaceuticals is a relatively early-stage biotechnology company with a cancer focus. In a company note, a Jefferies analyst said “We are revising our PT based on likelihood of clinical success based on recent experts’ discussions of INFI's products.”

The revised price target of $15 can be broken down by drug. For example, Jefferies estimates $7 for IPI-145, a dual inhibitor of PI3K delta and gamma, $5 for saridegib for myelofibrosis & chondrosarcoma, and $3 for retaspimycin in NSCLC, bringing the total price target for Infinity Pharmaceuticals to $15.

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 $13.31 yesterday.

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