Collins Stewart Maintans a 'Buy' on Human Genome Sciences (HGSI); Promising Metrics from First Full Q:
Tweet Send to a FriendGet Alerts HGSI Hot Sheet
Price: $14.24 --0%
Rating Summary:
5 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
5 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade HGSI Now!
Collins Stewart maintans a 'Buy' on Human Genome Sciences (NASDAQ: HGSI), raises price target from $35 to $37.
Collins analyst says, "HGSI reported 2Q11 Benlysta revenue of $7.8M (excluding $1.2M in deferred revenue at distributors), slightly below Street cons of $8.2M but above our $5.1M estimate. We are encouraged by the uptick in the average weekly Benlysta revenue run rate of $1.05M in June (vs. $0.6M in May and $0.3M in April), which suggests $13.7M with no growth in 3Q11 (vs. cons of $22.6M and CSe of $19.9M). In addition, we believe HGSI / Glaxo (NYSE: GSK) have made significant headway in just over 3 months since launch, as evidenced by the following: 1) reps have visited ~90% of the 2,265 target accounts an average of 5 times; 2) 85%-90% of target physicians have or intend to administer Benlysta within 3 months; 3) 98% of insurance verifications are approved (2-day turnaround); and 4) ~12% of target accounts (272/2,265) have already treated patients."
For more ratings news on Human Genome Sciences click here and for the rating history of Human Genome Sciences click here.
Shares of Human Genome Sciences closed at $23.22 yesterday, with a 52 week range of $22.34-$30.48.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Collins analyst says, "HGSI reported 2Q11 Benlysta revenue of $7.8M (excluding $1.2M in deferred revenue at distributors), slightly below Street cons of $8.2M but above our $5.1M estimate. We are encouraged by the uptick in the average weekly Benlysta revenue run rate of $1.05M in June (vs. $0.6M in May and $0.3M in April), which suggests $13.7M with no growth in 3Q11 (vs. cons of $22.6M and CSe of $19.9M). In addition, we believe HGSI / Glaxo (NYSE: GSK) have made significant headway in just over 3 months since launch, as evidenced by the following: 1) reps have visited ~90% of the 2,265 target accounts an average of 5 times; 2) 85%-90% of target physicians have or intend to administer Benlysta within 3 months; 3) 98% of insurance verifications are approved (2-day turnaround); and 4) ~12% of target accounts (272/2,265) have already treated patients."
For more ratings news on Human Genome Sciences click here and for the rating history of Human Genome Sciences click here.
Shares of Human Genome Sciences closed at $23.22 yesterday, with a 52 week range of $22.34-$30.48.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Wedbush Downgrades XenoPort (XNPT) to Neutral
- UPDATE: BTIG Starts ING U.S (VOYA) at Buy, Shares 'Significantly Undervalued'
- Goldman Sachs Upgrades Meritor (MTOR) to Buy
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Collins Stewart
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
