Analyst Edward White of H.C. Wainwright maintained a Buy rating on InflaRx (IFRX – Research Report), retaining the price target of $8.00.
Edward White has given his Buy rating due to a combination of factors including InflaRx’s recent financial performance and the promising prospects of its leading drug candidate, Gohibic. Notably, the company’s first-quarter earnings surpassed expectations, and White has adjusted his full-year estimates to reflect a more positive outlook, citing a stronger earnings prediction while moderately reducing revenue estimates. InflaRx’s financial position seems secure, with enough cash reserves to sustain operations well into the future, which provides stability and reduces immediate financial risk for investors.
Moreover, the progress in the development of Gohibic for treating Pyoderma Gangraenosum (PG), accompanied by its FDA Fast Track and Orphan Drug designations, underscores the drug’s potential and the company’s innovative capabilities. The interim analysis of the ongoing Phase 3 trial is expected in 2025, with the potential to adapt the trial based on the results, offering flexibility and responsiveness in its research approach. The absence of approved treatments for PG in key markets such as the U.S. and Europe, coupled with a significant patient population, suggests a substantial market opportunity for InflaRx upon successful drug development and anticipated product launch.
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InflaRx (IFRX) Company Description:
InflaRx NV is a clinical-stage biopharmaceutical company, which engages in the discovery and development of inhibitors of the complement activation factor known as C5a. Its products 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.
