Leerink Swann lowered shares of Inflarx (NASDAQ:IFRX) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, June 5th, The Fly reports.
A number of other equities research analysts have also issued reports on the stock. Raymond James set a $44.00 target price on shares of Inflarx and gave the company a buy rating in a research note on Friday, May 24th. Robert W. Baird lowered shares of Inflarx from an outperform rating to a neutral rating and cut their target price for the company from $58.00 to $6.00 in a research note on Wednesday, June 5th. SunTrust Banks lowered shares of Inflarx from a buy rating to a hold rating and cut their target price for the company from $55.00 to $5.00 in a research note on Wednesday, June 5th. ValuEngine upgraded shares of Inflarx from a hold rating to a buy rating in a research note on Thursday, February 28th. Finally, JPMorgan Chase & Co. lowered shares of Inflarx from an overweight rating to an underweight rating and cut their target price for the company from $67.00 to $9.00 in a research note on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $15.72.
Shares of Inflarx stock traded up $0.04 during trading on Wednesday, reaching $3.16. The company had a trading volume of 1,106,149 shares, compared to its average volume of 4,024,210. The firm’s fifty day simple moving average is $21.52. Inflarx has a fifty-two week low of $2.91 and a fifty-two week high of $53.10.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new stake in Inflarx during the third quarter worth about $277,000. Spark Investment Management LLC acquired a new stake in Inflarx during the first quarter worth about $359,000. Paloma Partners Management Co acquired a new stake in Inflarx during the fourth quarter worth about $526,000. Bank of America Corp DE acquired a new stake in Inflarx during the fourth quarter worth about $657,000. Finally, Renaissance Technologies LLC acquired a new stake in Inflarx during the third quarter worth about $665,000. Hedge funds and other institutional investors own 55.89% 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.
Recommended Story: Why do earnings reports matter?
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.