Today Broadfin Capital, a healthcare specialist investment firm, disclosed a 1,301,622 share position in Anthera Pharmaceuticals ($ANTH), this represents 5.7% stake in the company as of September 25, 2014.
This is an 70% increased from their June 30, 2014 disclosure of 766,329 shares.
The timing is interesting because of the near term of interim data from phase III CHABLIS-SC1 for Systemic lupus erythematosus in Q3'14 for and phase II/III BRIGHT-SC for rare disease IgA nephropathy in H2’14.
On the valuation side of things, the company has $20m in cash, and a $40m market cap (round figures), if one believes they will see positive read outs, this could prove to be an attractive valuation. The average analyst price target is $3.33, for which represents an 85% upside from current levels.
Anthera has an impressive institutional shareholder list which includes a 13D from Orbimed on August 1, 2014. Filing 13Fs as of June 30, 2014 from Great Point Partners, BVF, Perceptive, Sabby, and Abingworth.
I own no shares at this time.
This is the personal blog of Emory Redd.
This blog is not investment advice. This is not a solicitation to invest. Don't take candy from strangers.
BEST OF HEDGEROLL
ACHILLION AND RA CAPITAL: MY FAVORITE TRADE
SALIX INVESTORS LOOKING FOR A BUYOUT SHOULD BE CAUTIOUS; MORE ACCOUNTING PROBLEMS AHEAD
BIOTECH AS BUFFETT'S WONDERFUL BUSINESS