UPDATE: Auriga Downgrades Anthera Pharmaceuticals

According to a research report released earlier today, Auriga has downgraded Anthera Pharmaceuticals Inc. (NASDAQ: ANTH) from Hold to Sell based on excessive valuation.

Auriga commented in the report, “We also note interesting competition from upstart CareCloud (private) which boasts a more flexible approach to the revenue cycle and a much friendlier and intuitive user interface. Given the stock's 50% move since its Analyst Day in December, on what we perceive to be weakening fundamentals, we recommend investors take profits as we envision 25% downside from current levels. Our $57 price target is unchanged.”

Anthera Pharmaceuticals closed yesterday at $75.65.