5 Best Biotech Stocks Under $10

4. Infinity Pharmaceuticals, Inc. (NASDAQ: INFI)

Number of Hedge Fund Holders: 15

Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) is an innovative and clinical-stage biopharmaceutical company that develops and delivers medicines for the treatment of rare and serious diseases. The company uses scientific expertise to develop novel small molecule drugs that target emerging disease pathways. Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) stands fourth on our list of the best biotech stocks under $10.

In August, JPMorgan upgraded Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) to ‘Overweight’ with a $6 price target. The firm’s analyst, Anupam Rama noted the prospects of the company’s oral drug, which is currently undergoing mid-stage studies in urothelial cancer. In Q2 2021, Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) posted a GAAP EPS of -$0.13, beating the estimate by $0.01. The company reported revenue of $0.51 million, presenting a 41.7% year-over-year growth. For FY21, Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) expects a net loss in the range of $40 million to $50 million. Since the beginning of the year, Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) delivered a 74.8% return to shareholders, while its 12-month returns stood at 231.7%.

As of Q2 2021, 15 hedge funds tracked by Insider Monkey have positions in Infinity Pharmaceuticals, Inc. (NASDAQ: INFI), worth $60.1 million. The number of hedge funds remained the same in the previous quarter. Oaktree Capital Management is the company’s largest shareholder, with over 25 million shares, worth $256.7 million.