Stock Groups

InflaRx Stock Upgraded after Positive Data from Phase 2 Study -Breaking


© Reuters.

Sam Boughedda — InflaRx N.V. (NASDAQ:) stock surged Thursday on heavy volume after it reported positive data from the third cohort of patients in the Phase 2a study for its autoinflammatory skin disease treatment, which resulted in an upgrade from Raymond James.

InflaRx shares are now up by 40% at $4.02.

Six out of seven (75.7%) of the patients showed clinical relief and close of the skin ulcers. This treatment was very well tolerated with no adverse effects. 

InflaRx chief clinical director Dr Korinna Pilz stated, “We are glad to see patients responding.” 

Pilz added that they will be seeking FDA guidance as to the next steps in a pivotal program.

Raymond James upgraded the stock from outperform to strong buy. Steven Seedhouse, analyst at Steven Seedhouse stated that strong physiological responses in trial suggest “promising activity”. Seedhouse raised the price target for InflaRx from $10 to $14.

Yatin Suneja, a Guggenheim analyst, reiterated his buy rating for the stock and set a $16 price target. He said that data was encouraging.

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, futures, indexes and Forex. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.