Infinity Pharmaceutical (INFI) Hit on Jefferies Downgrade
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Price: $0.04 --0%
Rating Summary:
12 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Infinity Pharmaceutical (NASDAQ: INFI) is under heavy pressure following a downgrade Buy to Hold at Jefferies. However, the price target was bumped from $18 to $21.
"In the absence of positive events, INFI has gained significant traction on increased visibility of IPI-145 in Ph1/2a (its achievable potential yet-to-be defined; YTD +130% vs. +30% for NBI)," the firm notes. While biotech valuation is often based on perceived potential for early-stage assets, at EV of ~$470M (vs. ~$490M for peers), with limited clinical data and numerous competitors in development, we view a Hold rating as appropriate for INFI.
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 last traded at $18.43, down 8.8 percent.
"In the absence of positive events, INFI has gained significant traction on increased visibility of IPI-145 in Ph1/2a (its achievable potential yet-to-be defined; YTD +130% vs. +30% for NBI)," the firm notes. While biotech valuation is often based on perceived potential for early-stage assets, at EV of ~$470M (vs. ~$490M for peers), with limited clinical data and numerous competitors in development, we view a Hold rating as appropriate for INFI.
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 last traded at $18.43, down 8.8 percent.
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