Analyst Joseph Schwartz from Leerink Partners reiterated a Buy rating on InflaRx (IFRX – Research Report) and keeping the price target at $5.00.
Joseph Schwartz has given his Buy rating due to a combination of factors related to InflaRx’s recent progress and potential in its development pipeline. The company’s lead asset, vilobelimab, is advancing in a Phase 3 study for pyoderma gangrenosum with an innovative adaptive design, and expectations for interim analysis are set for 2025. Moreover, INF904, an oral molecule targeting the complement C5a receptor, has shown promise in early trials and is on track for a Phase 2a basket study by the end of 2024. Schwartz sees the potential in these assets, particularly the strong rationale behind the anti-C5aR inhibitor for treating hidradenitis suppurativa, and is optimistic about the upcoming R&D Day which will provide further clarity on InflaRx’s strategy.
Schwartz’s outlook is also buoyed by the company’s financial results and corporate updates, which suggest continued progress in their R&D efforts. The anticipation of more detailed insights during the forthcoming virtual R&D Day regarding INF904’s approach in treating both hidradenitis suppurativa and chronic spontaneous urticaria adds to the optimism. Although the clinical precedent for complement inhibitors in CSU treatment is less established, there are data linking complement factors to the disease’s pathogenesis, indicating potential for INF904. These aspects collectively contribute to Schwartz’s confidence in InflaRx’s future, reaffirming the Outperform rating and setting a price target of $5 on IFRX.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $8.00 price target.
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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.
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