5 Hot Biotech Stocks Under $5 to Buy

2. InflaRx N.V. (NASDAQ:IFRX)

While InflaRx N.V. (NASDAQ:IFRX) has gained 82.18% year-to-date, analysts continue to see 385.90% upside, helping it secure a spot on our list of hot biotech stocks under $5 to buy.

That analyst conviction only strengthened by mid-May, with two firm upgrades and target raises arriving back-to-back following a corporate update and first-quarter results.

On May 13, 2026, Raymond James upgraded InflaRx N.V. (NASDAQ:IFRX) to “Strong Buy” from “Outperform” and raised its price target to $9 from $7.

The firm cited a constructive view of InflaRx N.V. (NASDAQ:IFRX)’s izicopan program in ANCA-associated vasculitis, pointing to a recent $150 million financing that extends the runway into proof-of-concept development. The analyst noted preclinical and early clinical signals suggesting potentially improved potency, reduced hepatotoxicity risk, and simpler dosing compared to avacopan, while also flagging the program’s positioning to benefit from validated C5aR biology and broader complement pathway opportunities across renal indications.

That followed a target raise from H.C. Wainwright two days earlier.

On May 11, 2026, Wainwright’s analyst Matthew Keller lifted the firm’s price target to $8 from $6 while keeping a “Buy” rating, citing InflaRx N.V. (NASDAQ:IFRX)’s adjusted clinical focus on ANCA-associated vasculitis and inflammatory renal diseases, as well as the potential partnering of its hidradenitis suppurativa program following a recent corporate update.

Broader analyst sentiment remains firmly positive. Six of seven covering analysts hold a bullish view, and InflaRx N.V. (NASDAQ:IFRX) carries a consensus median price target of $8.95, even as shares currently trade under $2.

InflaRx N.V. (NASDAQ:IFRX) discovers and develops inhibitors using C5a technology in Germany and the United States.