UPDATE: Collins Stewart Initiates Coverage on Anthera Pharmaceuticals

A report from Collins Stewart initiates coverage on Anthera Pharmaceuticals (NASDAQ: ANTH) with a Buy rating and a $13 price target.

The report states, “ANTH has two value-driving assets in varespladib (P3) for acute coronary syndrome (ACS) and blisibimod (bmod; P2b) for lupus, with data from both studies expected in 2Q12. While we are cautious on the likelihood of success for the varespladib VISTA-16 trial (we handicap it at 35%), primarily due to study design concerns, a positive outcome could propel varespladib to standard of care.”

ANTH closed yesterday at $5.79.