Infinity Pharmaceuticals (INFI) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research downgraded shares of Infinity Pharmaceuticals (NASDAQ:INFI) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Infinity's clinical trial collaboration with Bristol-Myers for the evaluation of the IPI-549/Opdivo combination bodes well for the company. The company reported data from the monotherapy expansion and combination dose escalation components of the study, where IPI-549 was well tolerated. The company will also report data from seven combination expansion cohorts, which will pave the path for development and regulatory strategy for IPI-549. Also, it remains focused on maintaining strong fiscal discipline and anticipates that the company has cash runway into the third quarter of 2019, thereby allowing it to generate safety and activity data on all four components of its phase I/Ib study of IPI-549. However, Infinity has no approved product in its portfolio at the moment, with only IPI-549 in the pipeline which remains a concern. Loss estimates have narrowed ahead of the Q3 earnings release.”

Separately, ValuEngine downgraded shares of Infinity Pharmaceuticals from a hold rating to a sell rating in a report on Monday, July 2nd.

Shares of Infinity Pharmaceuticals stock opened at $2.39 on Tuesday. The stock has a market capitalization of $154.07 million, a price-to-earnings ratio of -2.88 and a beta of 2.25. Infinity Pharmaceuticals has a one year low of $1.65 and a one year high of $3.62.

Infinity Pharmaceuticals (NASDAQ:INFI) last announced its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.08. On average, equities analysts predict that Infinity Pharmaceuticals will post -0.57 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Algert Global LLC acquired a new position in shares of Infinity Pharmaceuticals during the second quarter valued at about $139,000. Essex Investment Management Co. LLC acquired a new position in shares of Infinity Pharmaceuticals during the second quarter valued at about $314,000. Wells Fargo & Company MN increased its holdings in shares of Infinity Pharmaceuticals by 83.1% during the first quarter. Wells Fargo & Company MN now owns 192,493 shares of the biotechnology company’s stock valued at $404,000 after acquiring an additional 87,357 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Infinity Pharmaceuticals by 2,112.9% during the first quarter. GSA Capital Partners LLP now owns 302,154 shares of the biotechnology company’s stock valued at $635,000 after acquiring an additional 288,500 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Infinity Pharmaceuticals by 95.2% during the second quarter. Acadian Asset Management LLC now owns 372,009 shares of the biotechnology company’s stock valued at $711,000 after acquiring an additional 181,436 shares in the last quarter. Hedge funds and other institutional investors own 49.28% of the company’s stock.

About Infinity Pharmaceuticals

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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