Infinity Pharmaceuticals (INFI) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $1.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $1.86. Analysts had a consensus of $-0.81. The company posted revenue of $9.47 million in the period, compared to analysts expectations of $10.19 million. The company’s revenue was up 94.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.78 EPS.
Many Wall Street Analysts have commented on Infinity Pharmaceuticals. Shares were Downgraded by RBC Capital Mkts on Jun 15, 2016 to ” Sector Perform” and Lowered the Price Target to $ 2 from a previous price target of $12 .Infinity Pharmaceuticals was Downgraded by Jefferies to ” Hold” on Jun 15, 2016. Infinity Pharmaceuticals was Downgraded by Wells Fargo to ” Market Perform” on Jun 15, 2016.
Infinity Pharmaceuticals closed down -0.03 points or -1.76% at $1.67 with 7,70,501 shares getting traded on Monday. Post opening the session at $1.73, the shares hit an intraday low of $1.67 and an intraday high of $1.78 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 26, 2015, Adelene Q Perkins (President & CEO) sold 5,000 shares at $10.93 per share price. According to the SEC, on Jun 16, 2015, Vito J. Palombella (Chief Scientific Officer) sold 4,737 shares at $10.97 per share price.
Infinity Pharmaceuticals Inc. is a biopharmaceutical company that is engaged in the discovery development and delivery of medicines to treat diseases. The Company develops small molecule drugs that target emerging disease pathways for potential applications in oncology. Its most advanced product candidate is duvelisib also known as IPI-145 an oral dual-inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K) for the treatment of hematologic malignancies. In addition to duvelisib the Company seeks to expand its pipeline through internal discovery research program and licensing of potential new product candidates or technologies discovered by third parties. The Company is conducting DUETTS (Duvelisib Trials in Hematologic Malignancies) a worldwide investigation of duvelisib in blood cancers.