InflaRx initiated at buy at BMO

BMO Capital analyst Matthew Luchini initiated InflaRX (IFRX) with an Outperform rating and a price target of $45. The analyst notes that the company’s IFX-1 “could be a best-in-class treatment for hidradenitis suppurativa” skin diseas, with initial data suggesting a “better clinical profile” than Humira. Luchini adds that the strength of IFX-1’s Phase IIa data de-risks the ongoing Phase IIb trial, also stating that “IFX-1’s targeting of C5a could be an advantage over emerging competitor avacopan” made by ChemoCentryx (CCXI).

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