Mixed Response on Infinity Pharma as Shares Plunge Amid Phase I Data

In reports published on Monday, Wells Fargo analyst Matthew Andrews and Piper Jaffray analyst Ian Somaiya had mixed responses on Infinity Pharma (NASDAQ: INFI) CLL drug data.

Wells Fargo calls the data "Very Solid" as its Phase 1/2 data on IPI-145 in chronic lymphocytic leukemia (CLL) continued to demonstrate "competitive efficacy profile" and tolerable safety profile. In addition, Infinity is seen to have taken appropriate steps to address a few new infectious/respiratory side effects that may raise investor concerns in N-T. Andrews gave Infinity an Outperform rating with price target at $46.50.

Piper Jaffray calls data "disappointing" as IPI-145 in CLL may disappoint investors with lack of improvement in response rates even after longer treatment duration. Analyst Ian Somaiya reiterated an Overweight rating on Infinity with price target at $50.00.

Shares of Infinity Pharma were down more than 25 percent Monday and at the time of publication shares of Infinity Pharma traded around $19.41.