BioCentury on BioBusiness,
Analyst Picks & Changes
Analyst picks & changes
Published on
Monday, December 5, 2011
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Company
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Bank
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Analyst
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Coverage
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Opinion
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Wk
chg
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12/2
cls
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Anthera
Pharmaceuticals Inc. (NASDAQ:ANTH)
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Wedbush
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Duane
Nash
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Upgrade
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Market
outperform (from neutral)
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19%
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$6.48
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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).
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Arena
Pharmaceuticals Inc. (NASDAQ:ARNA)
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Piper
Jaffray
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Edward
Tenthoff
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Upgrade
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Overweight
(from neutral)
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32%
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$1.68
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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.
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