Infinity Pharmaceuticals (NASDAQ:INFI) issued its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.19), Morningstar.com reports. The company had revenue of $2.14 million during the quarter, compared to the consensus estimate of $10.07 million.
Shares of INFI remained flat at $$1.54 on Friday. The stock had a trading volume of 200 shares, compared to its average volume of 82,442. The stock has a market cap of $87.67 million, a PE ratio of -7.70 and a beta of 2.10. Infinity Pharmaceuticals has a 52 week low of $1.00 and a 52 week high of $2.92.
Several equities research analysts recently weighed in on INFI shares. ValuEngine upgraded Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Zacks Investment Research upgraded Infinity Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $3.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in INFI. Renaissance Technologies LLC increased its position in Infinity Pharmaceuticals by 35.7% during the 3rd quarter. Renaissance Technologies LLC now owns 736,700 shares of the biotechnology company’s stock valued at $1,996,000 after buying an additional 194,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Infinity Pharmaceuticals by 14.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,065,874 shares of the biotechnology company’s stock valued at $2,889,000 after buying an additional 133,504 shares in the last quarter. Acadian Asset Management LLC increased its position in Infinity Pharmaceuticals by 36.0% during the 4th quarter. Acadian Asset Management LLC now owns 482,136 shares of the biotechnology company’s stock valued at $569,000 after buying an additional 127,670 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Infinity Pharmaceuticals by 48.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 191,927 shares of the biotechnology company’s stock valued at $361,000 after buying an additional 62,800 shares in the last quarter. Finally, Fosun International Ltd increased its position in Infinity Pharmaceuticals by 10.6% during the 1st quarter. Fosun International Ltd now owns 418,296 shares of the biotechnology company’s stock valued at $786,000 after buying an additional 40,000 shares in the last quarter. Institutional investors own 54.33% of the company’s stock.
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About Infinity Pharmaceuticals
Infinity Pharmaceuticals, Inc, a biopharmaceutical company, develops medicines for people with cancer in the United States. Its product candidate is IPI-549, an orally administered clinical-stage immuno-oncology product candidate that inhibits the enzyme phosphoinositide-3-kinase-gamma (PI3K-gamma), which is in Phase 1/1b clinical study.
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