Analyst Edward White of H.C. Wainwright reiterated a Buy rating on InflaRx (IFRX – Research Report), retaining the price target of $8.00.
Edward White has given his Buy rating due to a combination of factors surrounding InflaRx’s promising drug pipeline and market potential. The company is advancing its Phase 3 study of Gohibic, a novel anti-C5a monoclonal antibody, for the treatment of pyoderma gangrenosum (PG), a condition with significant unmet medical needs as there are no approved drugs in Europe or the U.S. The drug has received both FDA Fast Track and Orphan Drug Designations, highlighting its potential impact on the market.
Additionally, InflaRx’s INF904, an orally available C5a receptor antagonist, is being studied for chronic spontaneous urticaria (CSU) and hidradenitis suppurativa (HS), both of which have substantial market opportunities. The interim analysis of the Phase 3 study for Gohibic is expected by May 2025, and positive outcomes could accelerate its path to market. The analyst anticipates a 2027 launch for Gohibic with projected sales of $32.6 million, reinforcing the Buy rating based on these growth prospects.
White covers the Healthcare sector, focusing on stocks such as Valneva, InflaRx, and Chimerix. According to TipRanks, White has an average return of -3.5% and a 34.67% success rate on recommended stocks.
In another report released on March 26, Guggenheim also maintained a Buy rating on the stock with a $10.00 price target.