INFI - Infinity Pharma climbs as Wells Fargo says pullback is good buying opportunity

naphtalina/iStock via Getty Images The shares of Infinity Pharmaceuticals ([[INFI]] +46.7%) have surged in morning hours after losing nearly a third on Tuesday in apparent reaction to updated data from two mid-stage studies for the company’s oral immuno-oncology candidate, eganelisib. One study was designed to evaluate eganelisib in combination with Opdivo in advanced urothelial cancer while in the other eganelisib was part of a triple combination therapy in a front-line setting against triple-negative breast cancer. Commenting on trial results, Wells Fargo analysts Nick Abbott and Chuck Whitesell upgraded the stock to overweight from equal weight. They called the decline in share price a “good buying opportunity,” ahead of more data from the breast cancer trial along with the finalization of registration plans for eganelisib in urothelial cancer. The price target upped to $14 from $4 implies a premium of ~821.1% to the last close. The analysts also point to an upward

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Infinity Pharma climbs as Wells Fargo says pullback is "good buying opportunity"