Zacks Investment Research Downgrades Inflarx (IFRX) to Hold

Inflarx (NASDAQ:IFRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “InflaRx N.V. is a clinical-stage biopharmaceutical company. It focused on applying its proprietary anti-C5a technology to discover and develop first-in-class, potent and specific inhibitors of C5a. InflaRx N.V. is based in Germany. “

Several other equities research analysts have also recently weighed in on IFRX. Robert W. Baird started coverage on Inflarx in a research note on Monday, January 28th. They issued an “outperform” rating and a $62.00 price target on the stock. ValuEngine raised Inflarx from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. JPMorgan Chase & Co. increased their target price on Inflarx from $42.00 to $65.00 and gave the stock a “top pick” rating in a research note on Tuesday, February 5th. Guggenheim assumed coverage on Inflarx in a research note on Friday, February 22nd. They issued a “buy” rating and a $65.00 target price on the stock. Finally, BMO Capital Markets increased their target price on Inflarx to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday. One 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 company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.22.

Shares of IFRX stock opened at $51.14 on Thursday. The firm has a market capitalization of $1.34 billion, a P/E ratio of -36.53 and a beta of -0.84. Inflarx has a twelve month low of $20.31 and a twelve month high of $53.10.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of Inflarx by 18.1% in the fourth quarter. Millennium Management LLC now owns 72,153 shares of the company’s stock worth $2,624,000 after acquiring an additional 11,080 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Inflarx in the fourth quarter worth $526,000. RA Capital Management LLC grew its stake in shares of Inflarx by 6.0% in the fourth quarter. RA Capital Management LLC now owns 2,085,089 shares of the company’s stock worth $75,835,000 after acquiring an additional 117,241 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Inflarx in the fourth quarter worth $657,000. Finally, Polar Capital LLP grew its stake in shares of Inflarx by 54.4% in the fourth quarter. Polar Capital LLP now owns 141,887 shares of the company’s stock worth $5,160,000 after acquiring an additional 50,000 shares during the last quarter. 51.01% of the stock is currently owned by hedge funds and other institutional investors.

About Inflarx

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.

Further Reading: What are the qualifications of a portfolio manager?

Get a free copy of the Zacks research report on Inflarx (IFRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Inflarx (NASDAQ:IFRX)

Receive News & Ratings for Inflarx Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Inflarx and related companies with MarketBeat.com’s FREE daily email newsletter.

Source link

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *