InflaRx shares surge 13.13% after-hours as Raymond James raises price target to $9 on positive HS trial data.

InflaRx surged 13.13% in after-hours trading following Raymond James raising its price target to $9 from $2 and Cantor Fitzgerald lifting its target to $8 from $3, both citing strong Phase 2a data for INF904 in hidradenitis suppurativa (HS). The drug demonstrated a 63% HiSCR50 response rate at Week 8 for the 120mg BID dose, with significant pain score improvements (75%) outperforming competitors. Raymond James highlighted INF904’s potential in HS and complement-driven autoimmune diseases, while H.C. Wainwright initiated coverage with a $6 Buy rating. The stock’s rally also aligned with regained Nasdaq compliance and anticipation of Q3 2025 results on November 10. Analyst optimism and positive clinical data directly supported the sharp after-hours gain.