Human Genome Sciences (HGSI) Surges Higher Ahead of Benlysta Data

Shares of Human Genome Sciences Inc. (Nasdaq: HGSI) are surging higher today as traders make a risky bet that data on lupus drug Benlysta, due on Monday 7/20, will be positive. Shares of HGSI are up over 30% currently.

Comments from analysts at Leerink Swann, an investment bank focused exclusively on healthcare, seem to be the catalyst for today's upside move. In a note, Leerink Swann Joseph Schwartz said, "We hosted a conference call with MEDACorp consultants who were cautiously optimistic on upcoming BLISS-52 data expected on 7/20. The consultants are cautious because there is a long history of failed Lupus trials but remain optimistic because HGSI has stacked the trials favorably."

Schwartz also said Benlysta could still make it to market eventually even if only one Phase III trial is successful. He is reiterating his Buy rating and $8 price target on HGSI.

Other analysts are skeptical about the trial outcome.  Analysts at Piper Jaffray said they would remain on the sidelines due to unfavorable risk:reward.

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