Zacks: Brokerages Anticipate Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) Will Announce Quarterly Sales of $460,000.00

Equities research analysts expect that Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) will report $460,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Infinity Pharmaceuticals’ earnings, with estimates ranging from $200,000.00 to $690,000.00. Infinity Pharmaceuticals posted sales of $430,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 7%. The business is scheduled to report its next earnings results on Monday, May 10th.

On average, analysts expect that Infinity Pharmaceuticals will report full year sales of $2.11 million for the current year, with estimates ranging from $800,000.00 to $3.44 million. For the next financial year, analysts expect that the business will post sales of $3.42 million, with estimates ranging from $800,000.00 to $7.22 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Infinity Pharmaceuticals.

Infinity Pharmaceuticals (NASDAQ:INFI) last posted its earnings results on Monday, March 15th. The biotechnology company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). Infinity Pharmaceuticals had a negative net margin of 2,592.65% and a negative return on equity of 1,358.77%.

INFI has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of Infinity Pharmaceuticals in a report on Thursday, March 18th. They issued a “buy” rating and a $12.00 target price for the company. Truist initiated coverage on shares of Infinity Pharmaceuticals in a research note on Thursday, March 18th. They set a “buy” rating and a $12.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Infinity Pharmaceuticals from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 23rd. Piper Sandler initiated coverage on shares of Infinity Pharmaceuticals in a research note on Thursday, February 25th. They set an “overweight” rating and a $7.00 price objective for the company. Finally, Oppenheimer lifted their price objective on shares of Infinity Pharmaceuticals from $5.50 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, February 11th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Infinity Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $8.31.

Shares of INFI stock traded up $0.17 on Monday, reaching $3.51. The company’s stock had a trading volume of 35,600 shares, compared to its average volume of 3,897,280. The stock’s fifty day simple moving average is $3.27 and its 200-day simple moving average is $2.43. Infinity Pharmaceuticals has a 1 year low of $0.78 and a 1 year high of $5.98. The company has a market capitalization of $311.13 million, a price-to-earnings ratio of -4.70 and a beta of 2.40.

In other news, major shareholder Bvf Partners L. P/Il sold 5,848,520 shares of the business’s stock in a transaction on Friday, January 22nd. The shares were sold at an average price of $4.14, for a total transaction of $24,212,872.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.77% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Infinity Pharmaceuticals by 24.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,215,974 shares of the biotechnology company’s stock valued at $4,698,000 after purchasing an additional 429,041 shares during the period. BlackRock Inc. raised its holdings in shares of Infinity Pharmaceuticals by 0.6% in the fourth quarter. BlackRock Inc. now owns 976,446 shares of the biotechnology company’s stock valued at $2,071,000 after acquiring an additional 5,748 shares in the last quarter. Callan Capital LLC bought a new stake in shares of Infinity Pharmaceuticals in the fourth quarter valued at about $155,000. JPMorgan Chase & Co. raised its holdings in shares of Infinity Pharmaceuticals by 165,024.0% in the fourth quarter. JPMorgan Chase & Co. now owns 41,281 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 41,256 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Infinity Pharmaceuticals by 268.9% in the third quarter. Morgan Stanley now owns 35,251 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 25,695 shares in the last quarter. 46.66% of the stock is owned by hedge funds and other institutional investors.

Infinity Pharmaceuticals Company Profile

Infinity Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel medicines for people with cancer. It offers IPI-549, an orally administered, clinical-stage, immuno-oncology product candidate that selectively inhibits the enzyme phosphoinositide-3-kinase-gamma Its product candidate is IPI-549, an orally administered clinical-stage immuno-oncology product candidate that inhibits the enzyme phosphoinositide-3-kinase-gamma (PI3K-gamma), which is in Phase 1/1b clinical study.

Featured Story: Average Daily Trade Volume – What It Means In Stock Trading

Get a free copy of the Zacks research report on Infinity Pharmaceuticals (INFI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Infinity Pharmaceuticals (NASDAQ:INFI)

Receive News & Ratings for Infinity Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinity Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.