Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) was upgraded by analysts at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a research report issued on Thursday.

Separately, ValuEngine upgraded shares of Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, July 6th.

Shares of Infinity Pharmaceuticals (INFI) traded down 22.25% on Thursday, reaching $2.90. The company had a trading volume of 15,755,449 shares. The company has a 50 day moving average price of $1.34 and a 200 day moving average price of $1.65. Infinity Pharmaceuticals has a 52-week low of $0.84 and a 52-week high of $3.84. The stock’s market capitalization is $147.00 million.

Infinity Pharmaceuticals (NASDAQ:INFI) last issued its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.12). During the same period in the previous year, the company posted $1.05 EPS. On average, equities research analysts anticipate that Infinity Pharmaceuticals will post ($0.92) earnings per share for the current year.

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In other news, insider Value Fund L. P. Biotechnology purchased 1,600,046 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was bought at an average cost of $1.26 per share, for a total transaction of $2,016,057.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.81% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Highbridge Capital Management LLC bought a new stake in Infinity Pharmaceuticals during the first quarter valued at about $106,000. Zacks Investment Management bought a new stake in Infinity Pharmaceuticals during the second quarter valued at about $101,000. Wells Fargo & Company MN boosted its holdings in Infinity Pharmaceuticals by 144.6% during the first quarter. Wells Fargo & Company MN now owns 81,493 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 48,177 shares during the period. Ameriprise Financial Inc. bought a new stake in Infinity Pharmaceuticals during the second quarter valued at about $130,000. Finally, Citadel Advisors LLC boosted its holdings in Infinity Pharmaceuticals by 19,074.1% during the first quarter. Citadel Advisors LLC now owns 86,522 shares of the biotechnology company’s stock valued at $279,000 after acquiring an additional 86,978 shares during the period. Institutional investors own 67.47% of the company’s stock.

Infinity Pharmaceuticals Company Profile

Infinity Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and delivery of medicines to treat diseases. The Company develops small molecule drugs that target disease pathways for potential applications in oncology. Its product candidate is duvelisib, also known as IPI-145, is an oral, dual-inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K), for the treatment of hematologic malignancies, or blood cancers.

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