Infinity Pharmaceuticals (INFI) Trading 10.8% Higher
Infinity Pharmaceuticals Inc. (NASDAQ:INFI)’s share price traded up 10.8% during mid-day trading on Friday . The stock traded as high as $2.09 and last traded at $2.06. 1,249,238 shares traded hands during trading, a decline of 7% from the average session volume of 1,346,138 shares. The stock had previously closed at $1.86.
Several research firms have weighed in on INFI. ValuEngine cut Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Wells Fargo & Co upgraded Infinity Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Thursday, October 12th.
The firm has a market cap of $94.32, a price-to-earnings ratio of -1.79 and a beta of 2.80.
Infinity Pharmaceuticals (NASDAQ:INFI) last released its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.06. The business had revenue of $6.00 million during the quarter, compared to analysts’ expectations of $14.70 million. During the same quarter last year, the business posted ($0.39) EPS. equities research analysts anticipate that Infinity Pharmaceuticals Inc. will post -0.93 EPS for the current year.
In other news, President Lawrence E. Bloch bought 500,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was bought at an average price of $1.81 per share, for a total transaction of $905,000.00. Following the purchase, the president now directly owns 580,944 shares in the company, valued at approximately $1,051,508.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Value Fund L. P. Biotechnology bought 1,600,046 shares of the stock in a transaction dated Wednesday, October 4th. The stock was purchased at an average price of $1.26 per share, with a total value of $2,016,057.96. The disclosure for this purchase can be found here. Company insiders own 6.81% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zacks Investment Management purchased a new position in shares of Infinity Pharmaceuticals in the 2nd quarter valued at approximately $101,000. Ameriprise Financial Inc. purchased a new position in shares of Infinity Pharmaceuticals in the 2nd quarter valued at approximately $130,000. JPMorgan Chase & Co. purchased a new position in shares of Infinity Pharmaceuticals in the 3rd quarter valued at approximately $135,000. FMR LLC purchased a new position in shares of Infinity Pharmaceuticals in the 2nd quarter valued at approximately $349,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Infinity Pharmaceuticals by 75.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 246,234 shares of the biotechnology company’s stock valued at $387,000 after purchasing an additional 105,497 shares during the period. Institutional investors own 54.29% of the company’s stock.
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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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