Zacks Research Upgrades InflaRx (NASDAQ:IFRX) to Strong-Buy

InflaRx (NASDAQ:IFRX) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

IFRX has been the topic of several other research reports. Guggenheim reissued a “buy” rating and issued a $14.00 target price on shares of InflaRx in a report on Tuesday, April 21st. Oppenheimer started coverage on InflaRx in a research note on Friday, April 24th. They set an “outperform” rating and a $5.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of InflaRx in a research note on Wednesday, June 24th. Raymond James Financial upgraded shares of InflaRx from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $7.00 to $9.00 in a research report on Wednesday, May 13th. Finally, HC Wainwright increased their price objective on shares of InflaRx from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

InflaRx Price Performance

Shares of NASDAQ:IFRX opened at $1.69 on Monday. The firm has a market capitalization of $122.17 million, a price-to-earnings ratio of -2.38 and a beta of 2.44. The business’s 50 day simple moving average is $2.02 and its 200-day simple moving average is $1.49. InflaRx has a 12 month low of $0.74 and a 12 month high of $2.95.

InflaRx (NASDAQ:IFRX) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.08. On average, equities analysts anticipate that InflaRx will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On InflaRx

A number of institutional investors and hedge funds have recently bought and sold shares of IFRX. 683 Capital Management LLC increased its position in InflaRx by 47.3% during the fourth quarter. 683 Capital Management LLC now owns 3,315,000 shares of the company’s stock worth $3,348,000 after buying an additional 1,065,000 shares in the last quarter. T3 Companies LLC acquired a new position in shares of InflaRx in the fourth quarter worth $294,000. Suvretta Capital Management LLC lifted its position in shares of InflaRx by 22.4% in the fourth quarter. Suvretta Capital Management LLC now owns 7,933,910 shares of the company’s stock valued at $8,013,000 after acquiring an additional 1,450,000 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of InflaRx in the third quarter valued at $3,316,000. Finally, Woodline Partners LP acquired a new stake in shares of InflaRx during the first quarter valued at $766,000. Hedge funds and other institutional investors own 42.39% of the company’s stock.

About InflaRx

InflaRx N.V. is a clinical?stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapies targeting the complement system, with an emphasis on the complement?1a (C5a) pathway. The company’s lead product candidate, vilobelimab (IFX?1), is a monoclonal antibody designed to selectively inhibit C5a, a potent pro?inflammatory peptide implicated in a range of autoimmune and inflammatory diseases. InflaRx seeks to address high?unmet medical needs by advancing treatments for conditions such as hidradenitis suppurativa, pyoderma gangrenosum and other rare and severe inflammatory disorders.

Vilobelimab has been evaluated in multiple Phase II trials, demonstrating proof of concept in reducing key inflammatory markers and improving clinical outcomes.