UPDATE: B.Riley Assumes Infinity Pharmaceutical (INFI) at Buy

B.Riley analyst Pharm Patel assumes coverage on Infinity Pharmaceutical (NASDAQ: INFI) with a Buy rating and a price target of $7.00.

The analyst comments "Upcoming clinical catalyst for TNBC (end of July) could de-risk the company's pipeline. Registration-enabling study for mUC likely to start in <12 months. At ~$150M EV, we think INFI shares are undervalued."

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 $2.85 yesterday.

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