Infinity Pharmaceuticals (NASDAQ:INFI) Cut to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Infinity Pharmaceuticals (NASDAQ:INFI) from a buy rating to a hold rating in a research report report published on Saturday morning, Zacks.com reports.

According to Zacks, “Infinity Pharmaceuticals, Inc. is an innovative cancer drug discovery and development company that is seeking to leverage its strength in small molecule drug technologies to discover, develop, and deliver to patients best-in-class medicines for the treatment of cancer and related conditions. “

INFI has been the subject of several other reports. Oppenheimer reaffirmed a buy rating on shares of Infinity Pharmaceuticals in a report on Friday, July 31st. B. Riley lifted their price target on shares of Infinity Pharmaceuticals from $2.50 to $3.00 and gave the company a buy rating in a report on Friday, November 13th. Finally, ValuEngine lowered shares of Infinity Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, October 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $2.19.

INFI opened at $1.74 on Friday. The company has a 50-day moving average of $1.21 and a 200-day moving average of $1.05. The company has a market capitalization of $111.72 million, a P/E ratio of -2.32 and a beta of 1.81. Infinity Pharmaceuticals has a 1-year low of $0.60 and a 1-year high of $1.87.

Infinity Pharmaceuticals (NASDAQ:INFI) last posted its quarterly earnings results on Monday, November 9th. The biotechnology company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.01). Infinity Pharmaceuticals had a negative net margin of 2,999.17% and a negative return on equity of 1,358.77%. As a group, sell-side analysts expect that Infinity Pharmaceuticals will post -0.64 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in INFI. Russell Investments Group Ltd. raised its holdings in shares of Infinity Pharmaceuticals by 64.6% during the second quarter. Russell Investments Group Ltd. now owns 43,451 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 17,051 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Infinity Pharmaceuticals by 4.9% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 277,550 shares of the biotechnology company’s stock valued at $251,000 after buying an additional 13,001 shares during the period. Bridgeway Capital Management Inc. increased its stake in Infinity Pharmaceuticals by 2.3% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 419,300 shares of the biotechnology company’s stock valued at $379,000 after buying an additional 9,300 shares during the period. Acadian Asset Management LLC increased its stake in Infinity Pharmaceuticals by 8.6% in the 3rd quarter. Acadian Asset Management LLC now owns 647,394 shares of the biotechnology company’s stock valued at $758,000 after buying an additional 51,482 shares during the period. Finally, Morgan Stanley increased its stake in Infinity Pharmaceuticals by 268.9% in the 3rd quarter. Morgan Stanley now owns 35,251 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 25,695 shares during the period. Institutional investors and hedge funds own 47.23% of the company’s stock.

Infinity Pharmaceuticals Company Profile

Infinity Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel medicines for people with cancer. It offers IPI-549, an orally administered, clinical-stage, immuno-oncology product candidate that selectively inhibits the enzyme phosphoinositide-3-kinase-gamma 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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