UPDATE: Canaccord Initiates Buy, $13 Target on Anthera Pharmaceuticals

Canaccord initiates a Buy rating and $13 target price on Anthera Pharmaceuticals

on good chance of blisibimod Phase 2/3 lupus success and positive Phase 3 varespladib ACS data in 2012 Canaccord says, “We see blisibimod as having a very good chance of Phase 2/3 clinical and commercial success in lupus. We think positive interim biomarker data from the Phase 2/3 PEARL-SC trial bodes well for final mid-2012 data. We also think blisibimod may have stronger, faster clinical benefit vs. Benlysta due to its dual BAFF mechanism, which may result in higher peak sales.” ANTH closed at 6.48 per share on Wednesday.