Anthera Pharma (ANTH) PT Lowered to $1.75 at Jefferies Following 2Q
Jefferies lowered its price target on Anthera Pharma (NASDAQ: ANTH) to $1.75 (from $2.25) while maintaining a Hold rating following the company's 2Q. ANTH reported EPS of $0.03 due to a non-cash gain on fair value of warrants. Operating expenses were $8.7M vs. $11.5M estimates, due to reduced SG&A ($1.5M) from a 30% reduction in head count.
ANTH also started the Ph. III Sollpura RESULT study in patients with EPI in the U.S. and Europe, with an interim futility analysis by early Q4 2017, and topline data in Q1 2018.