Guggenheim raised the firm’s price target on InflaRx (IFRX) to $22 from $10 and keeps a Buy rating on the shares after the company announced topline data from a Phase 2a basket study exploring INF904 in hidradenitis suppurativa and chronic spontaneous urticaria. The firm raised its view of the odds of success in HS to 65% from 30% following the data and models peak HS sales of about $1.5B.
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