Canaccord Genuity Reiterates a 'Buy' on Anthera Pharma (ANTH); B-Mod Still Has A Shot

Canaccord Genuity reiterates a 'Buy' on Anthera Pharma (NASDAQ: ANTH) price target of $3.00 (from $6.00).

Analyst, Ritu Baral, said, "Reiterate rating, lowering target to $3 on blisibimod’s (B-mod) continued, but now delayed, clinical/market potential in lupus. We expect B-mod, ANTH's lupus BAFF peptibody, will start Ph3 in H1/13. ANTH may start Ph2 B-mod trials in other lupus-related disorders in 2013 too. Our $3 pNPV target is on modestly lower peak sales and delayed approval, noting a significant near-term financing risk."

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 $0.74 yesterday.

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