Piper Sandler Trims Infinity Pharmaceuticals (NASDAQ:INFI) Target Price to $3.00

Infinity Pharmaceuticals (NASDAQ:INFI – Get Rating) had its price target cut by investment analysts at Piper Sandler from $4.00 to $3.00 in a research report issued on Monday, The Fly reports. Piper Sandler’s price target would suggest a potential upside of 378.77% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 8th. StockNews.com upgraded Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, May 15th. Truist Financial decreased their price target on Infinity Pharmaceuticals from $12.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 31st. Finally, B. Riley reduced their price objective on Infinity Pharmaceuticals from $7.00 to $5.00 in a report on Monday, January 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $6.25.

Shares of INFI stock opened at $0.63 on Monday. Infinity Pharmaceuticals has a 1-year low of $0.46 and a 1-year high of $3.89. The company has a market capitalization of $55.86 million, a price-to-earnings ratio of -1.21 and a beta of 2.16. The stock’s fifty day simple moving average is $0.88 and its 200-day simple moving average is $1.44.

Infinity Pharmaceuticals (NASDAQ:INFI – Get Rating) last issued its earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). Infinity Pharmaceuticals had a negative return on equity of 175.11% and a negative net margin of 2,254.97%. The firm had revenue of $0.65 million for the quarter, compared to the consensus estimate of $0.40 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. On average, analysts anticipate that Infinity Pharmaceuticals will post -0.55 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in INFI. BlackRock Inc. grew its stake in shares of Infinity Pharmaceuticals by 11.4% during the fourth quarter. BlackRock Inc. now owns 6,667,503 shares of the biotechnology company’s stock worth $15,001,000 after buying an additional 684,014 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in shares of Infinity Pharmaceuticals during the third quarter valued at about $8,550,000. State Street Corp raised its holdings in shares of Infinity Pharmaceuticals by 4.8% during the first quarter. State Street Corp now owns 1,884,979 shares of the biotechnology company’s stock valued at $2,149,000 after purchasing an additional 86,006 shares during the period. Geode Capital Management LLC raised its holdings in shares of Infinity Pharmaceuticals by 22.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,734,032 shares of the biotechnology company’s stock worth $5,930,000 after acquiring an additional 319,114 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Infinity Pharmaceuticals by 45.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,693,200 shares of the biotechnology company’s stock worth $5,791,000 after acquiring an additional 527,800 shares during the last quarter. 54.74% of the stock is currently owned by institutional investors and hedge funds.

Infinity Pharmaceuticals Company Profile (Get Rating)

Infinity Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel medicines for people with cancer. Its product candidate is IPI-549, an orally administered clinical-stage immuno-oncology product candidate that inhibits the enzyme phosphoinositide-3-kinase-gamma, which is in Phase 2 clinical trials for the treatment of metastatic triple negative breast cancer and urothelial cancer; and Phase 1/1b clinical trials for the treatment of solid tumors.

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