Raymond James raises Inflarx's PT on COVID injection opportunity

Inflarx NV

06/04/2023 11:42

** Raymond James raises PT on Germany-based biopharma co
Inflarx NV's  IFRX.O  stock to $25 from $8 
    ** Brokerage's upgrade comes after U.S. FDA's emergency-use
authorization for IFRX's COVID injection 
    ** Co's monoclonal antibody, Vilobelimab, also known as
Gohibic, is to treat critically ill COVID-19 patients when
administered within 48 hours of receiving artificial life
support
    ** Brokerage increases Gohibic point of sale to 100% vs
previous view of 30% and inputs a $25,000/patient gross
treatment price 
    ** Estimates ~40-50 thousand patients will be candidates for
Gohibic in 2024 with peak sales opportunity ~$320 mln in COVID,
based on trailing data for COVID hospitalizations, ICU and
ventilator rates by U.S. CDC
    ** Brokerage SVB Securities also ups PT on IFRX stock to $10
from $4 while Guggenheim upgrades its rating to "buy" from
"neutral" 
    ** As of last close, co's U.S.-listed stock up 96.8% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))