Anadys at strong buy by JMP

Anadys Pharmaceuticals, Inc. was reiterated at a strong buy rating and given an increased price target (to $18 from $17) by JMP Securities analyst Adam Cutler. The company reported fourth-quarter financial results of a loss per share of $0.11 versus JMP's estimate of $0.22 and the Street consensus of $0.20. The analyst expects to see interim results of the phase 1b study of ANA975 in HCV in May followed by full viral load data for all patients sometime in mid-summer. JMP also expects Novartis to exercise its option to license ANA380, likely providing Anadys with upfront cash, milestone payments and royalties. Shares of the San Diego pharmaceutical company were up 15 cents, or 1.21%, at $12.50 on volume of 166,745 shares versus the three-month running average of 139,384 shares. (Nasdaq: ANDS)

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