Anthera Pharmaceuticals Inc (NASDAQ: ANTH) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company was at the center of news surrounding a new analyst initiation with a massive price target. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to ANTH ahead.
Roth Capital Initiates Coverage On ANTH
As mentioned above, Anthera Pharmaceuticals is having an incredibly strong start to the trading session this morning after news broke of new analyst coverage. According to various reports, Roth Capital has initiated coverage on the stock. Along with the coverage initiation, the analyst set a massive price target of $10.00. That’s huge, considering that it represents a potential upside of 491.72%!
It’s understandable that Roth Capital would see such a strong upside for the company. Ultimately, we’ve seen overwhelmingly strong data out of both of the company’s treatment candidates – Blisibimod and Sollpura. With the strong clinical data, there are expectations that ANTH will soon see an approval from regulatory authorities, pushing it into the commercial stages.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dabble in the market is that the news causes movement. That’s definitely the case here. With news of Roth Capital deciding to not only to cover the stock, but also to put a massive price target on it in the process, it’s no surprise that investors are excited, sending Anthera Pharmaceuticals toward the top. Of course, our partners at Trade Idea were the first to alert us to the gains. Currently (9:24), ANTH is trading at $1.91 per share after a gain of $0.22 per share (13.02%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ANTH. In particular, we’re interested in following the story surrounding both of the company’s impressive treatment candidates and excited to follow the progression of these candidates ahead. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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