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.
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