Raymond James Cuts InflaRx (NASDAQ:IFRX) Price Target to $7.00

InflaRx (NASDAQ:IFRXGet Rating) had its price objective cut by equities researchers at Raymond James from $15.00 to $7.00 in a report released on Friday, The Fly reports. Raymond James’ price target would indicate a potential upside of 379.45% from the company’s previous close.

A number of other brokerages also recently commented on IFRX. HC Wainwright reduced their price objective on shares of InflaRx from $10.00 to $7.00 in a research report on Friday. SVB Leerink reduced their price target on shares of InflaRx from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, March 25th. Finally, Guggenheim downgraded shares of InflaRx from a “buy” rating to a “neutral” rating in a research report on Monday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.50.

Shares of IFRX stock opened at $1.46 on Friday. The stock’s 50-day moving average is $1.93 and its two-hundred day moving average is $3.32. The firm has a market cap of $64.53 million, a price-to-earnings ratio of -1.15 and a beta of 0.82. InflaRx has a 1 year low of $1.31 and a 1 year high of $5.69.

InflaRx (NASDAQ:IFRXGet Rating) last announced its earnings results on Thursday, March 24th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.04. On average, research analysts forecast that InflaRx will post -1.52 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP purchased a new stake in InflaRx in the 3rd quarter worth approximately $29,000. Commonwealth Equity Services LLC purchased a new stake in InflaRx in the 4th quarter worth approximately $48,000. Geode Capital Management LLC purchased a new stake in InflaRx in the 3rd quarter worth approximately $49,000. Two Sigma Securities LLC purchased a new stake in InflaRx in the 3rd quarter worth approximately $58,000. Finally, Millennium Management LLC grew its stake in InflaRx by 41.6% in the 3rd quarter. Millennium Management LLC now owns 46,080 shares of the company’s stock worth $119,000 after acquiring an additional 13,538 shares during the period. 20.98% of the stock is owned by hedge funds and other institutional investors.

About InflaRx (Get Rating)

InflaRx N.V., a clinical-stage biopharmaceutical company, discovers and develops inhibitors using C5a technology primarily in Germany and the United States. The company's C5a is an inflammatory mediator that is involved in the progression of a variety of autoimmune and other inflammatory diseases.

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