UPDATE: JPMorgan Upgrades Infinity Pharmaceutical (INFI) to Overweight

August 2, 2021 1:41 AM EDT
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Price: $3.55 -4.31%

Rating Summary:
    13 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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(Updated - August 2, 2021 4:18 AM EDT)

JPMorgan analyst Anupam Rama upgraded Infinity Pharmaceutical (NASDAQ: INFI) from Neutral to Overweight with a price target of $6.00.

The analyst comments "Infinity is a clinical-stage company focused on developing novel therapies for oncology. We believe Infinity’s lead asset eganelisib (IPI-549; an oral, selective small-molecule inhibitor of PI3K-gamma) has an interesting opportunity in the immune checkpoint combination space, particularly for 2L advanced urothelial cancer (based on known data). We view INFI shares as undervalued on 2L UC alone and view additional indications as potential long-term opportunities. Our Dec 2022 PT of $6 includes probability adjusted sales of eganelisib in PD-L1 low UC and platform value (<10% of total valuation)."

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 $2.12 yesterday.

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