Raymond James upgraded InflaRx to Strong Buy from Outperform with a price target of $9, up from $7. Following Q1 earnings, sentiment is increasingly supported by a constructive view on InflaRx's izicopan program in AAV, backed by a recent $150M financing that extends runway into proof-of-concept development, with preclinical and early clinical signals suggesting potentially improved potency, reduced hepatotoxicity risk, and simpler dosing versus avacopan, while also positioning the program to benefit from validated C5aR biology and broader complement-related opportunities across renal indications, the analyst tells investors in a research note.
