Oppenheimer analyst Andreas Argyrides raised the firm’s price target on InflaRx (IFRX) to $7 from $3 and keeps an Outperform rating on the shares following positive results from the Phase 2a basket study of INF904 in hidradenitis suppurative and chronic spontaneous urticaria. The firm sees INF904 emerging as a best-in-class oral therapy with favorable safety and a superior PK/PD profile vs. avacopan. The robust results derisk INF904’s profile, warranting further development in both indications, Oppenheimer adds.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IFRX:
- InflaRx price target raised to $24 from $3 at Lucid Capital
- Buy Rating for InflaRx: Promising Phase 2a Results of INF904 Drive Optimism
- InflaRx price target raised to $22 from $10 at Guggenheim
- InflaRx reports Phase 2a data for INF904 in HS, CSU
- InflaRx Announces Positive Phase 2a Results for INF904 in HS and CSU