Benzinga -
- On Wednesday, the FDA granted emergency-use authorization to InflaRx NV's (NASDAQ: IFRX) monoclonal antibody for hospitalized COVID patients when initiated within 48 hours of receiving artificial life support. Vilobelimab will be sold under Gohibic.
- Guggenheim Partners has upgraded InflaRx to Buy from Neutral with a new price target of $8.
- The analyst writes that despite the pandemic coming to a close, Vilobelimab still has a significant market opportunity since the weekly hospitalization rate for COVID is still over 2,000 patients/ week in the U.S. and IFRX, most likely above $20K/course, above Gilead Sciences Inc's (NASDAQ: GILD) remdesivir.
- HC Wainwright reiterates the Buy rating and increases the price target to $10 from $6 following the FDA update.
- The analyst estimates Gohibic sales of $10 million in 2023 and $91 million in 2028.
- HC Wainwright notes that InflaRx is exploring marketing options, including partnering or going it alone for commercialization.
- Management mentioned it is unlikely to see immediate sales but would expect commercial sales in 2H23.
- Pricing of the drug is expected to be in the five-digit range.
- Price Action: IFRX shares are down 9.59% at $5.51 on the last check Thursday after rallying for the past two days.
| Nov 2021 | Raymond James | Maintains | Strong Buy | |
| Oct 2021 | Raymond James | Upgrades | Outperform | Strong Buy |
| Aug 2021 | Raymond James | Maintains | Outperform |
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