S&P Reiterates BUY Rating on Human Genome Sciences, Target Price Reduced

October 28 00:00 2011

New York, October 28 (RainbowNewsLine.com) – Analyst Steven Silver of S&P Capital IQ reiterates his BUY recommendation on the shares of Human Genome Sciences (NASDAQ:HGSI). The target price has been reduced from $19 to $16.

Analyst Steven Silver, in a research note published on October 26 mentions that the company has reported its Q3 loss per share ahead of the estimates. Benlysta net sales of $18.8 million are short of the estimate of $20 million. Analyst believes that the shares will remain extremely volatile due to limited visibility into timing of an accelerating sales trajectory. The company is forwarding its profitability target to 2014 from prior to 2013 forecast. The loss per share for 2011 and 2012 has been raised from $1.88 to $1.93 and from $1.05 to $1.27, respectively.