Zacks Investment Research upgraded shares of Inflarx (NASDAQ:IFRX) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $3.75 price target on the stock.
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. “
Other research analysts have also recently issued research reports about the company. Raymond James set a $44.00 target price on Inflarx and gave the company a buy rating in a research note on Friday, May 24th. ValuEngine upgraded Inflarx from a hold rating to a buy rating in a research note on Thursday, February 28th. Guggenheim started coverage on Inflarx in a research report on Friday, February 22nd. They set a buy rating and a $65.00 price objective for the company. SunTrust Banks lowered Inflarx from a buy rating to a hold rating and reduced their price objective for the company from $55.00 to $5.00 in a research report on Wednesday, June 5th. Finally, Svb Leerink lowered Inflarx from an outperform rating to a market perform rating in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Inflarx presently has an average rating of Hold and an average target price of $15.72.
IFRX opened at $3.28 on Wednesday. The company has a market capitalization of $79.97 million and a PE ratio of -2.34. Inflarx has a 52 week low of $2.91 and a 52 week high of $53.10.
Inflarx (NASDAQ:IFRX) last released its earnings results on Thursday, March 28th. The company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.02). As a group, analysts expect that Inflarx will post -2.08 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in Inflarx during the 3rd quarter valued at approximately $277,000. Spark Investment Management LLC bought a new stake in shares of Inflarx in the 1st quarter worth $359,000. Millennium Management LLC increased its holdings in shares of Inflarx by 18.1% in the 4th quarter. Millennium Management LLC now owns 72,153 shares of the company’s stock worth $2,624,000 after purchasing an additional 11,080 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Inflarx by 36.1% in the 1st quarter. Artisan Partners Limited Partnership now owns 52,197 shares of the company’s stock worth $1,973,000 after purchasing an additional 13,834 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Inflarx in the 4th quarter worth $526,000. 55.89% of the stock is owned by institutional investors.
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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