J.P. Morgan Reiterates a Hold Rating on Infinity Pharma

By Carrie Williams

In a report released yesterday, Anupam Rama from J.P. Morgan reiterated a Hold rating on Infinity Pharma (NASDAQ: INFI). The company’s shares opened today at $1.29, close to its 52-week low of $0.84.

Rama observed:

“Infinity reported a 3Q GAAP loss per share of $0.39. Post the duvelisib setback and recent out-licensing of the program (see note here), Infinity remains focused on the development of its immuno-oncology Pi3K-gamma inhibitor IPI-549 and the company has made overall strategic progress. Importantly, and as announced this morning, the company now has a collaboration with Bristol related to the combination studies of IPI-549 and Opdivo. Phase 1 monotherapy dose escalation evaluation of IPI-549 is ongoing, with Opdivo combination dose escalation to start by YE16 (data expected in 1H17). Currently the cash runway is sufficient to 1Q18.”

According to TipRanks.com, Rama is a 3-star analyst with an average return of 1.2% and a 45.8% success rate. Rama covers the Healthcare sector, focusing on stocks such as Merrimack Pharmaceuticals, Alexion Pharmaceuticals, and PTC Therapeutics.

Infinity Pharma has an analyst consensus of Hold.

Based on Infinity Pharma’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $9.47 million and quarterly net profit of $51.94 million. In comparison, last year the company earned revenue of $90.74 million and had a net profit of $41.7 million.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is neutral on the stock. Most recently, in June 2015, Vito Palombella, the CSO of INFI sold 4,737 shares for a total of $51,965.

Infinity Pharmaceuticals, Inc. is an innovative drug discovery and development company, which engages in discovering, developing and delivering medicines for difficult-to-treat diseases, developing novel small molecule drugs that target emerging disease pathways. The company was founded by Steven H. Holtzman on March 22, 1995 and is headquartered in Cambridge, MA.