Infinity Pharmaceuticals (INFI) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jun 15, 2016.
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 JP Morgan to ” Neutral” on Jun 14, 2016.
On the company’s financial health, Infinity Pharmaceuticals reported $-0.82 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $-0.82. The company had revenue of $9.26 million for the quarter, compared to analysts expectations of $8.93 million. The company’s revenue was up 112.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.91 EPS.
Infinity Pharmaceuticals closed down -3.05 points or -69.16% at $1.36 with 1,96,87,249 shares getting traded on Tuesday. Post opening the session at $1.45, the shares hit an intraday low of $1.24 and an intraday high of $1.56 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.