InflaRx price target raised to $65 from $42 at JPMorgan

JPMorgan analyst Anupam Rama raised his price target for InflaRx to $65 from $42 ahead of the Phase 2b Shine study of IFX-1 In hidradenitis suppurativa. The data readout, expected in Q2, “largely remains an under the radar catalyst,” Rama tells investors in a research note. The analyst continues to believe the Shine study has a high probability of success and the potential to be a “transformational catalyst” for InflaRx shares. Rama sees share upside potential from the readout ranging from 60% to 150%-plus versus downside in the 40%-55% range. He reiterates InflaRx as a top pick for the first half of 2019 and keeps an Overweight rating on the name.

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