Guggenheim Raises InflaRx (NASDAQ:IFRX) Price Target to $10.00

InflaRx (NASDAQ:IFRX - Get Free Report) had its price target lifted by equities researchers at Guggenheim from $7.00 to $10.00 in a report issued on Wednesday, MarketBeat reports. The firm currently has a "buy" rating on the stock.

Separately, HC Wainwright reissued a "buy" rating and issued a $8.00 price objective on shares of InflaRx in a research report on Friday, March 21st.

InflaRx Trading Down 8.0 %

NASDAQ:IFRX traded down $0.10 on Wednesday, hitting $1.15. 346,085 shares of the stock were exchanged, compared to its average volume of 216,961. The stock has a fifty day moving average of $1.80 and a 200-day moving average of $1.89. The stock has a market cap of $77.20 million, a PE ratio of -1.06 and a beta of 1.98. InflaRx has a fifty-two week low of $1.13 and a fifty-two week high of $2.82.

InflaRx (NASDAQ:IFRX - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.18. InflaRx had a negative net margin of 33,362.70% and a negative return on equity of 65.98%. As a group, analysts predict that InflaRx will post -1.04 earnings per share for the current year.

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Hedge Funds Weigh In On InflaRx

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in shares of InflaRx by 1,933.1% in the fourth quarter. Northern Trust Corp now owns 666,845 shares of the company's stock worth $1,647,000 after buying an additional 634,045 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of InflaRx during the fourth quarter worth approximately $1,576,000. Commonwealth Equity Services LLC increased its stake in InflaRx by 20.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 111,500 shares of the company's stock valued at $275,000 after buying an additional 19,000 shares during the period. Geode Capital Management LLC increased its stake in shares of InflaRx by 32.8% during the fourth quarter. Geode Capital Management LLC now owns 48,136 shares of the company's stock valued at $119,000 after acquiring an additional 11,900 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of InflaRx in the 4th quarter worth $55,000. Institutional investors and hedge funds own 42.39% of the company's stock.

About InflaRx

InflaRx N.V., a clinical-stage biopharmaceutical company, discovers and develops inhibitors using C5a technology in Germany and the United States. The company's C5a is an inflammatory mediator that is involved in the progression of a variety of autoimmune and other inflammatory diseases. Its lead product candidate is vilobelimab, a novel intravenously delivered first-in-class anti-C5a monoclonal antibody, which completed the Phase III clinical trial for the treatment of hidradenitis suppurativa, a rare and chronic debilitating systemic inflammatory skin disease; for the treatment of anti-neutrophil cytoplasm antibody associated vasculitis, a rare and life-threatening autoimmune disease that is in Phase II trial; to treat pyoderma gangraenosum, a chronic inflammatory skin disorder that is in Phase IIa exploratory study; and for the treatment of PD-1/PD-L1 inhibitor resistant/refractory locally advanced or metastatic cutaneous squamous cell carcinoma that is in Phase II clinical development stage.