Anthera Pharmaceuticals Inc (NASDAQ:ANTH) shares dropped 8.8% during trading on Friday . The company traded as low as $1.32 and last traded at $1.35. Approximately 1,540,554 shares changed hands during trading, an increase of 179% from the average daily volume of 551,595 shares. The stock had previously closed at $1.48.

ANTH has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Anthera Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research report on Tuesday, October 10th. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Anthera Pharmaceuticals in a research note on Tuesday, September 19th. Finally, ValuEngine upgraded shares of Anthera Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Sunday, December 31st.

The stock has a market capitalization of $18.70, a P/E ratio of -0.25 and a beta of 2.71.

Anthera Pharmaceuticals (NASDAQ:ANTH) last issued its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.32. During the same quarter in the prior year, the business posted ($4.85) earnings per share. sell-side analysts predict that Anthera Pharmaceuticals Inc will post -3.09 EPS for the current year.

A hedge fund recently raised its stake in Anthera Pharmaceuticals stock. Wedbush Securities Inc. increased its stake in Anthera Pharmaceuticals Inc (NASDAQ:ANTH) by 75.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,764 shares of the biopharmaceutical company’s stock after buying an additional 31,800 shares during the period. Wedbush Securities Inc. owned about 0.68% of Anthera Pharmaceuticals worth $106,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 16.10% of the company’s stock.

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About Anthera Pharmaceuticals

Anthera Pharmaceuticals, Inc (Anthera) is a biopharmaceutical company focused on developing and commercializing products to treat serious diseases associated with inflammation, including enzyme replacement therapies and autoimmune diseases. The Company has two Phase III product candidates, liprotamase also known as Sollpura and blisibimod.

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