Goldman Slashes PT on Infinity Pharma (INFI), Maintains Neutral

Goldman Sachs today maintained a Neutral rating on Infinity Pharmaceutical (NASDAQ: INFI) and cuts its price target to $20.00 (from $40.00). Analyst Navdeep Singh noted increased competitive pressures.

"We are lowering our 12-month price target for INFI to $20 (from $40) due to (1) increased competitive pressure from Gilead's (Nasdaq: GILD) idelalisib, (2) uncertainty on IPI-145's (oral therapy for blood cancers) safety profile, and (3) lack of visibility on commercial positioning. We now project IPI-145 peak sales of $1bn (from $2.8bn) and assign no success (from a 20% probability of success) to retaspimycin (HSP-90 inhibitor for lung cancer) due to mixed competitor data at ASCO," said Singh.

For an analyst ratings summary and ratings history on Infinity Pharmaceutical (NASDAQ: INFI) click here. For more ratings news on Infinity Pharmaceutical click here.

Shares of Infinity Pharmaceutical closed at $16.46 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Kuaishou Technology (1024:HK) PT Lowered to HK$27.60 at Macquarie
• Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results