Revenue Update on Infinity Pharmaceuticals(NASDAQ:INFI)

Infinity Pharmaceuticals(NASDAQ:INFI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $9.47M. Analysts estimated a revenue of $13.91M. Earnings per share were $-1.20. Analysts had estimated an EPS of $-0.89.

In a different note, On Jun 15, 2016, Morgan Stanley said it Downgrades its rating on Infinity Pharmaceuticals. In the research note, the firm Lowers the price-target to $11.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jun 15, 2016, Jefferies said it Downgrades its rating on Infinity Pharmaceuticals. The shares have been rated ‘Hold’ by the firm. On Jun 15, 2016, Wells Fargo said it Downgrades its rating on Infinity Pharmaceuticals. The shares have been rated ‘Market Perform’ by the firm. On Jun 15, 2016, William Blair said it Downgrades its rating on Infinity Pharmaceuticals. The shares have been rated ‘Market Perform’ by the firm. On Jun 14, 2016, JMP Securities said it Downgrades its rating on Infinity Pharmaceuticals. The shares have been rated ‘Market Perform’ by the firm. On Jun 14, 2016, Wedbush said it Upgrades its rating on Infinity Pharmaceuticals. In the research note, the firm Lowers the price-target to $3.00 per share. The shares have been rated ‘Neutral’ by the firm.

Infinity Pharmaceuticals (INFI) shares turned negative on Wednesdays trading session with the shares closing down -0.01 points or -0.61% at a volume of 2,58,190. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.65. The peak price level was also seen at $1.65 while the days lowest was $1.6. Finally the shares closed at $1.63. The 52-week high of the shares is $10.85 while the 52-week low is $1.24. According to the latest information available, the market cap of the company is $81 M.

Several Insider Transactions has been reported to the SEC. On Jun 26, 2015, Adelene Q Perkins (President & CEO) sold 5,000 shares at $10.93 per share price.Also, On Jun 16, 2015, Vito J. Palombella (Chief Scientific Officer) sold 4,737 shares at $10.97 per share price.

Infinity Pharmaceuticals Inc. is a biopharmaceutical company that is engaged in the discovery development and delivery of medicines to treat diseases. The Company develops small molecule drugs that target emerging disease pathways for potential applications in oncology. Its most advanced product candidate is duvelisib also known as IPI-145 an oral dual-inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K) for the treatment of hematologic malignancies. In addition to duvelisib the Company seeks to expand its pipeline through internal discovery research program and licensing of potential new product candidates or technologies discovered by third parties. The Company is conducting DUETTS (Duvelisib Trials in Hematologic Malignancies) a worldwide investigation of duvelisib in blood cancers.

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