Company

Bank

Analyst

Coverage

Opinion

Wk chg

12/2 cls

Anthera Pharmaceuticals Inc. (NASDAQ:ANTH)

Wedbush

Duane Nash

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Market outperform (from neutral)

19%

$6.48

Nash also raised his target to $8 from $7 after Anthera said interim data from the Phase IIb PEARL-SC trial showed subcutaneous blisibimod (A-623) significantly reduced B cells in patients with systemic lupus erythematosus (SLE). The company said elevations in B cells have been associated with an increased risk of disease activity in lupus patients. Final data are expected in 2Q12 (see B23). Anthera has exclusive, worldwide rights to the peptide fusion protein that antagonizes BLyS (BAFF) from Amgen Inc. (NASDAQ:AMGN).

Arena Pharmaceuticals Inc. (NASDAQ:ARNA)

Piper Jaffray

Edward Tenthoff

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Overweight (from neutral)

32%

$1.68

Tenthoff also raised his target to $3 from $1.50 after moving up his expectation for Arena's resubmission of an NDA for obesity candidate lorcaserin to early 2012 from 2014. He believes the company has made "substantial progress" towards addressing issues outlined in an October 2010 complete response letter from FDA (see BioCentury, Nov. 1, 2010). Tenthoff anticipates approval of the serotonin (5-HT2C) receptor agonist in 2H12 and forecasts $1.1B in U.S. sales in 2016.