Infinity Pharma Soars; Wells Fargo Upgrades On Drug Potential
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
INFI US (Infinity Pharmaceuticals Inc)
People
Dr Jim Birchenough (Wells Fargo Securities LLC)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283
(Bloomberg) -- Infinity Pharma rises 32% pre-market on 139k volume after Wells Fargo analyst Jim Birchenough upgraded rating to outperform (now the sole outperform rating) from market perform, PT $5 from $1.50, after the co.’s submission of an IPI-549 late-breaking abstract was accepted for oral presentation at the Society of Immunotherapy of Cancer (SITC) conference.
- Says based on prior SITC late breaker data, see a reasonable likelihood of proof-of-concept response rate data
- While IPI-549 still remains at an earlier stage of development than other late breaker orals at SITC, the selection for late breaker oral presentation suggests cause for optimism; current valuation doesn’t reflect the drug’s potential
- INFI has 1 buy, 3 holds, no sells, avg PT $3.50: Bloomberg data
- NOTE: Shares rose as much as 10.5% on Sept. 25 after Infinity, BMY Expand Pact Evaluating IPI-549/Opdivo
- July 27, Infinity Amends License Pact with Takeda Oncology for IPI-549
- Jan. 20, Infinity Pharma Up 19% After IPI-549 Preclinical, Phase 1 Data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
INFI US (Infinity Pharmaceuticals Inc)
People
Dr Jim Birchenough (Wells Fargo Securities LLC)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283