Truist Securities Starts Infinity Pharmaceutical (INFI) at Buy; $12 PT
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(Updated - March 18, 2021 6:17 AM EDT)
Truist Securities analyst Robyn Karnauskas initiates coverage on Infinity Pharmaceutical (NASDAQ: INFI) with a Buy rating and a price target of $12.00.
The analyst commented, "INFI is an oncology company with potential first-in-class & best-in-class oral drug (eganelisib) which has shown strong risk-benefit profile in Ph2 in 2L bladder cancer (UC) and early Ph1 data in 1L triple negative breast cancer (TNBC) & other cancers. We believe eganelisib is differentiated, underappreciated and that clinical data to date is supportive of further development. At current levels, we believe INFI is undervalued and reflects $150M in peak sales. We model peak unadj/adj peak sales opportunity of ~$4B/$500M and see a favorable risk/reward profile into data readouts over next 12-18 months (300%-500% upside/50% downside from current levels)."
Shares of Infinity Pharmaceutical closed at $3.20 yesterday.
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