ValuEngine upgraded shares of Inflarx (NASDAQ:IFRX) from a hold rating to a buy rating in a research report released on Thursday, February 28th.
A number of other research analysts also recently issued reports on IFRX. JPMorgan Chase & Co. lifted their price target on Inflarx from $42.00 to $65.00 and gave the company a top pick rating in a report on Tuesday, February 5th. Zacks Investment Research downgraded Inflarx from a buy rating to a hold rating in a report on Wednesday, January 30th. Robert W. Baird began coverage on Inflarx in a research report on Monday, January 28th. They issued an outperform rating and a $62.00 price objective for the company. Guggenheim began coverage on Inflarx in a research report on Friday, February 22nd. They issued a buy rating and a $65.00 price objective for the company. Finally, Credit Suisse Group assumed coverage on Inflarx in a research report on Monday, December 10th. They issued an outperform rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $51.67.
Shares of NASDAQ:IFRX traded down $2.41 during trading on Thursday, hitting $40.60. The company had a trading volume of 306,569 shares, compared to its average volume of 170,721. Inflarx has a one year low of $20.31 and a one year high of $51.33. The firm has a market capitalization of $950.45 million, a price-to-earnings ratio of -13.81 and a beta of -0.84.
Several hedge funds have recently added to or reduced their stakes in IFRX. Bank of New York Mellon Corp bought a new position in Inflarx during the third quarter worth $277,000. Jane Street Group LLC acquired a new position in shares of Inflarx in the third quarter valued at approximately $278,000. JPMorgan Chase & Co. increased its stake in shares of Inflarx by 29.2% in the third quarter. JPMorgan Chase & Co. now owns 10,700 shares of the company’s stock valued at $367,000 after buying an additional 2,420 shares during the period. Northern Trust Corp increased its stake in shares of Inflarx by 46.9% in the second quarter. Northern Trust Corp now owns 11,624 shares of the company’s stock valued at $375,000 after buying an additional 3,709 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of Inflarx in the fourth quarter valued at approximately $526,000. Institutional investors and hedge funds own 56.56% of the company’s stock.
Inflarx Company Profile
InflaRx N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing inhibitors using C5a technology primarily in the United States and Europe. Its C5a is an inflammatory mediator involved in the enhancement of a variety of autoimmune and other inflammatory diseases. The company’s lead product candidate is IFX-1, a novel intravenously delivered first-in-class anti-C5a monoclonal antibody that is in the Phase IIb clinical trial for the treatment of hidradenitis suppurativa, a rare and chronic debilitating systemic inflammatory skin disease; to treat ANCA-associated vasculitis, a rare and life-threatening autoimmune disease; and for the treatment of other chronic/autoimmune diseases.
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