Infinity Pharmaceuticals Inc. (NASDAQ:INFI) announced its earnings results on Tuesday. The biotechnology company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.01. Infinity Pharmaceuticals had a negative return on equity of 125.20% and a net margin of 13.23%. The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $19.60 million. During the same period in the previous year, the business earned ($0.82) EPS. Infinity Pharmaceuticals’s revenue was down 99.9% compared to the same quarter last year.
Separately, Zacks Investment Research cut shares of Infinity Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $1.58.
Institutional investors have recently bought and sold shares of the company. Platinum Investment Management Ltd. increased its position in shares of Infinity Pharmaceuticals by 62.6% in the first quarter. Platinum Investment Management Ltd. now owns 810,232 shares of the biotechnology company’s stock valued at $2,617,000 after buying an additional 312,000 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Infinity Pharmaceuticals during the first quarter valued at approximately $106,000. Citadel Advisors LLC increased its position in Infinity Pharmaceuticals by 19,074.1% in the first quarter. Citadel Advisors LLC now owns 86,522 shares of the biotechnology company’s stock valued at $279,000 after buying an additional 86,978 shares during the period. Dimensional Fund Advisors LP bought a new position in Infinity Pharmaceuticals during the first quarter valued at approximately $1,588,000. Finally, Geode Capital Management LLC increased its position in Infinity Pharmaceuticals by 4.5% in the first quarter. Geode Capital Management LLC now owns 345,366 shares of the biotechnology company’s stock valued at $1,114,000 after buying an additional 15,005 shares during the period. 79.56% of the stock is currently owned by institutional investors.
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About Infinity Pharmaceuticals
Infinity Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and delivery of medicines to treat diseases. The Company develops small molecule drugs that target disease pathways for potential applications in oncology. Its product candidate is duvelisib, also known as IPI-145, is an oral, dual-inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K), for the treatment of hematologic malignancies, or blood cancers.
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