INFI - Why Infinity Pharmaceuticals Blasted 38% Higher Today
Clinical-stage biotech Infinity Pharmaceuticals (NASDAQ: INFI) had a big and bright Monday, with its stock closing the session more than 38% higher. The rocket that lifted it was ignited by a prominent investment bank's upgrade, the latest in a series of analyst upgrades for the stock.
The newest bull for Infinity is Anupam Rama at JPMorgan Chase unit JPMorgan. The prognosticator upped his recommendation on Infinity stock to overweight (buy) from his previous assessment of neutral, with a price target of $6 per share. That was nearly triple Friday's closing price for the developer of novel cancer treatments.
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Why Infinity Pharmaceuticals Blasted 38% Higher Today