Infinity Pharmaceuticals (NASDAQ:INFI) Coverage Initiated by Analysts at B. Riley

B. Riley began coverage on shares of Infinity Pharmaceuticals (NASDAQ:INFI) in a research report sent to investors on Monday. The firm issued a buy rating and a $3.50 price target on the biotechnology company’s stock. B. Riley also issued estimates for Infinity Pharmaceuticals’ Q4 2019 earnings at ($0.19) EPS, FY2019 earnings at ($0.81) EPS, Q1 2020 earnings at ($0.20) EPS, Q2 2020 earnings at ($0.21) EPS, Q3 2020 earnings at ($0.21) EPS, Q4 2020 earnings at ($0.21) EPS, FY2020 earnings at ($0.83) EPS, FY2021 earnings at ($0.86) EPS, FY2022 earnings at ($0.60) EPS and FY2023 earnings at $0.54 EPS.

Separately, ValuEngine upgraded Infinity Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $2.83.

NASDAQ:INFI opened at $1.13 on Monday. The company has a current ratio of 6.22, a quick ratio of 6.22 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $55.66 million, a P/E ratio of -5.65 and a beta of 1.82. Infinity Pharmaceuticals has a 12 month low of $0.82 and a 12 month high of $1.95. The business’s 50-day moving average is $1.06 and its 200 day moving average is $1.34.

Infinity Pharmaceuticals (NASDAQ:INFI) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). The firm had revenue of $0.34 million during the quarter, compared to analysts’ expectations of $0.85 million. Infinity Pharmaceuticals had a negative return on equity of 125.37% and a negative net margin of 1,519.91%. On average, research analysts forecast that Infinity Pharmaceuticals will post -0.84 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC purchased a new stake in Infinity Pharmaceuticals during the second quarter valued at approximately $76,000. Athanor Capital LP purchased a new stake in Infinity Pharmaceuticals during the second quarter valued at approximately $177,000. Evercore Wealth Management LLC raised its position in Infinity Pharmaceuticals by 20.7% during the second quarter. Evercore Wealth Management LLC now owns 143,138 shares of the biotechnology company’s stock valued at $258,000 after purchasing an additional 24,553 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Infinity Pharmaceuticals by 5.0% during the second quarter. Jacobs Levy Equity Management Inc. now owns 201,438 shares of the biotechnology company’s stock valued at $363,000 after purchasing an additional 9,511 shares during the period. Finally, Acadian Asset Management LLC raised its position in Infinity Pharmaceuticals by 10.9% during the second quarter. Acadian Asset Management LLC now owns 601,517 shares of the biotechnology company’s stock valued at $1,083,000 after purchasing an additional 58,998 shares during the period. Institutional investors and hedge funds own 51.76% of the company’s stock.

Infinity Pharmaceuticals Company Profile

Infinity Pharmaceuticals, Inc, a biopharmaceutical company, develops medicines for people with cancer in the United States. Its product candidate is IPI-549, an orally administered clinical-stage immuno-oncology product candidate that inhibits the enzyme phosphoinositide-3-kinase-gamma (PI3K-gamma), which is in Phase 1/1b clinical study.

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