Leerink Swann Starts Anthera Pharma (ANTH) at Outperform; Compelling Risk-Reward with Advanced Programs in SLE and ACS
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Price: $0.00 --0%
Rating Summary:
8 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Leerink Swann initiates coverage on Anthera Pharma (NASDAQ: ANTH) with an Outperform. $12-14 valuation range.
Leerink analyst says, " The company has two advanced stage clinical assets that we believe provide an attractive investment profile. A-623 is a BAFF/BLyS peptibody currently in Phase IIb (PEARL-SC study) with results expected in 1H12. Given clinical success with another BAFF-targeting biologic, Human Genome (Nasdaq: HGSI) / GlaxoSmithKline's (NYSE: GSK) Benlysta, we believe PEARL-SC has a strong probability of success. While it remains to be seen if A-623 can clinically differentiate from Benlysta, we believe the Systemic Lupus Erythematosis (SLE) market is sizable enough to accommodate multiple players, and A-623 only needs to garner a modest share of the market. In addition, ANTH's Varespladib is a sPLA2 inhibitor being evaluated for acute coronary syndrome (ACS) in the Phase III VISTA study, with final results expected in mid-2012. We see VISTA as a high-risk, high-reward trial. With a modest $215M enterprise value, we see considerable upside to ANTH should either of its advanced stage programs succeed."
For more ratings news on Anthera Pharma click here and for the rating history of Anthera Pharma click here.
Shares of Anthera Pharma closed at $7.10 yesterday.
Leerink analyst says, " The company has two advanced stage clinical assets that we believe provide an attractive investment profile. A-623 is a BAFF/BLyS peptibody currently in Phase IIb (PEARL-SC study) with results expected in 1H12. Given clinical success with another BAFF-targeting biologic, Human Genome (Nasdaq: HGSI) / GlaxoSmithKline's (NYSE: GSK) Benlysta, we believe PEARL-SC has a strong probability of success. While it remains to be seen if A-623 can clinically differentiate from Benlysta, we believe the Systemic Lupus Erythematosis (SLE) market is sizable enough to accommodate multiple players, and A-623 only needs to garner a modest share of the market. In addition, ANTH's Varespladib is a sPLA2 inhibitor being evaluated for acute coronary syndrome (ACS) in the Phase III VISTA study, with final results expected in mid-2012. We see VISTA as a high-risk, high-reward trial. With a modest $215M enterprise value, we see considerable upside to ANTH should either of its advanced stage programs succeed."
For more ratings news on Anthera Pharma click here and for the rating history of Anthera Pharma click here.
Shares of Anthera Pharma closed at $7.10 yesterday.
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