After a Nearly 280% Surge In Human Genome Sciences (HGSI) Is There More Upside?

Shares of Human Genome Sciences Inc. (Nasdaq: HGSI) surged 276% today after the company announced this morning that BENLYSTA met the primary endpoint in BLISS-52, the first of two pivotal Phase 3 trials in patients with serologically active systemic lupus erythematosus.

Investors who missed the party have to ask - Is there any upside left?

Well according to the analyst at Leerink Swann, who made a prescient call on HGSI last week while everyone else was negative, there is even more upside.

Leerink Swann's Joseph Schwartz raised his fair value estimates on HGSI to $16 from $4 on the news. So this suggests, even with today's meteoric rise, there could be still be 28% upside in the stock. Mr. Schwartz is not even the 'street high' with his price target. Citi raised their price target on HGSI to $17 as did Thomas Weisel!

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