downgraded shares of Inflarx (NASDAQ:IFRX) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.
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. “
Get Inflarx alerts: A number of other research firms have also weighed in on IFRX. Robert W. Baird decreased their target price on shares of Inflarx from $62.00 to $58.00 and set an outperform rating on the stock Friday, March 29th. ValuEngine raised shares of Inflarx from a hold rating to a buy rating Monday, February 4th. JPMorgan Chase & Co. raised their target price on shares of Inflarx from $42.00 to $65.00 and gave the stock a top pick rating Tuesday, February 5th. Finally, Guggenheim initiated coverage on shares of Inflarx in a report on Friday, February 22nd. They set a buy rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Inflarx has an average rating of Buy and a consensus price target of $51.89.
IFRX opened at $48.59 on Thursday. Inflarx has a 1-year low of $20.31 and a 1-year high of $51.33. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -34.71 and a beta of -0.84.
Several hedge funds and other institutional investors have recently made changes to their positions in IFRX. Scopia Capital Management LP acquired a new stake in shares of Inflarx during the 3rd quarter worth approximately $7,038,000. RA Capital Management LLC increased its holdings in shares of Inflarx by 6.0% during the 4th quarter. RA Capital Management LLC now owns 2,085,089 shares of the company’s stock worth $75,835,000 after buying an additional 117,241 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Inflarx by 137.4% during the 3rd quarter. Vanguard Group Inc now owns 162,460 shares of the company’s stock worth $5,576,000 after buying an additional 94,020 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Inflarx by 137.4% during the 3rd quarter. Vanguard Group Inc. now owns 162,460 shares of the company’s stock worth $5,576,000 after buying an additional 94,020 shares during the last quarter. Finally, Polar Capital LLP increased its holdings in shares of Inflarx by 54.4% during the 4th quarter. Polar Capital LLP now owns 141,887 shares of the company’s stock worth $5,160,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 51.01% of the company’s stock.
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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