Analyst Matthew Keller of H.C. Wainwright reiterated a Buy rating on InflaRx, retaining the price target of $6.00.
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Matthew Keller has given his Buy rating due to a combination of factors surrounding InflaRx’s promising developments with their drug INF904. The recent Phase 2a study results have shown that INF904 exhibits rapid and significant anti-inflammatory effects in treating conditions like chronic spontaneous urticaria (CSU) and hidradenitis suppurativa (HS). These results are particularly noteworthy when compared to other treatments in the same category, suggesting that INF904 could potentially serve as a versatile treatment option across multiple indications.
Furthermore, the stock has seen a substantial increase, reflecting positive market sentiment following the encouraging data. The trial outcomes indicate that INF904 is not only effective but also safe and well-tolerated, with manageable adverse events. This positions INF904 as a promising candidate for further clinical development, with a Phase 2b trial anticipated in the near future. Keller’s optimism is based on the potential for INF904 to generate significant value for InflaRx and its shareholders.
According to TipRanks, Keller is a 3-star analyst with an average return of 4.6% and a 51.72% success rate. Keller covers the Healthcare sector, focusing on stocks such as Gyre Therapeutics, FibroGen, and Acurx Pharmaceuticals.
In another report released today, Guggenheim also maintained a Buy rating on the stock with a $22.00 price target.