Glaxo's Bid for Human Genome Is a Positive for Anthera Pharma (ANTH) - Analyst
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Price: $52.97 +0.46%
Rating Summary:
3 Buy, 5 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 5 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Analysts at Deutsche Bank said today's GlaxoSmithKline (NYSE: GSK) bid for Human Genome Sciences (NASDAQ: HGSI) has positive implications for Anthera Pharma (NASDAQ: ANTH).
HGSI and GSK co-commercialize Benlysta, a competitor to Anthera's B-mod, for lupus, the firm notes. GSK and HGSI also share interest in darapladib for cardiovascular disease and albiglutide, a once a weekly GLP-1 agonist, for type 2 diabetes.
The firm said today's HGSI bid makes partnership or takeout of Anthera more likely.
"Today's bid could highlight that large cap pharma views the lupus space as a larger opportunity than Street thinks. We view today's bid as a positive for Anthera since it owns 100% rights to B-mod for lupus (HGSI owned 50% of Benlysta). Recall, phase 2 data for B-mod are due in Q2:12 and is the next major catalyst for Anthera. If data are positive, today's news has increased our confidence in a potential partnership or takeout of Anthera for B-mod. Historically, Anthera management has been open to a takeout."
The firm maintained a Buy rating and $4 price target on Anthera.
For an analyst ratings summary and ratings history on Anthera Pharma click here. For more ratings news on Anthera Pharma click here.
Shares of Anthera Pharma closed at $1.97 yesterday, with a 52 week range of $1.86-$9.08.
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HGSI and GSK co-commercialize Benlysta, a competitor to Anthera's B-mod, for lupus, the firm notes. GSK and HGSI also share interest in darapladib for cardiovascular disease and albiglutide, a once a weekly GLP-1 agonist, for type 2 diabetes.
The firm said today's HGSI bid makes partnership or takeout of Anthera more likely.
"Today's bid could highlight that large cap pharma views the lupus space as a larger opportunity than Street thinks. We view today's bid as a positive for Anthera since it owns 100% rights to B-mod for lupus (HGSI owned 50% of Benlysta). Recall, phase 2 data for B-mod are due in Q2:12 and is the next major catalyst for Anthera. If data are positive, today's news has increased our confidence in a potential partnership or takeout of Anthera for B-mod. Historically, Anthera management has been open to a takeout."
The firm maintained a Buy rating and $4 price target on Anthera.
For an analyst ratings summary and ratings history on Anthera Pharma click here. For more ratings news on Anthera Pharma click here.
Shares of Anthera Pharma closed at $1.97 yesterday, with a 52 week range of $1.86-$9.08.
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