Truist Securities Starts Infinity Pharmaceutical (INFI) at Buy; $12 PT

(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)."

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 $3.20 yesterday.

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