B.Riley FBR Sticks to Its Buy Rating for InflaRx NV

B.Riley FBR analyst Madhu Kumar reiterated a Buy rating on InflaRx NV (NASDAQ: IFRX) yesterday and set a price target of $43. The company’s shares opened today at $34.77.

Kumar commented:

“This morning, 5/17, InflaRx (IFRX) announced 1Q18 earnings and provided a corporate update. We reiterate to investors that lead asset IFX-1 has the potential to disrupt the treatment of hidradenitis suppurativa (HS), with 1H19 top-line Phase IIb results potentially serving as a positive catalyst for IFRX shares. After model updates, particularly a recent capital raise, we reiterate our IFRX Buy rating but lower our price target from $48 to $43.”

According to TipRanks.com, Kumar is a top 100 analyst with an average return of 42.1% and a 63.6% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Clementia Pharmaceuticals Inc.

Currently, the analyst consensus on InflaRx NV is Moderate Buy and the average price target is $42.50, representing a 22.2% upside.

In a report released today, Leerink Partners also reiterated a Buy rating on the stock with a $42 price target.

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The company has a one-year high of $42.83 and a one-year low of $14.47. Currently, InflaRx NV has an average volume of 68.61K.

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InflaRx NV is a biopharmaceutical company, which engages in the discovery and development of inhibitors of the complement activation factor known as C5a. Its pipeline includes IFX-1 and IFX-2. The company was founded by Niels Christoph Riedemann, Renfeng Guo, and Nicolas Fulpius in December 2007 and is headquartered in Jena, Germany.