Collins Stewart Maintains a 'Buy' on Human Genome Sciences (HGSI); Mgmt Dinner & Physician Feedback
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Price: $14.24 --0%
Rating Summary:
3 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Collins Stewart maintains a 'Buy' on Human Genome Sciences (NASDAQ: HGSI), PT $37.
Collins analyst said, "Management was positive on Benlysta's reimbursement progress to date, and while they noted that it is still too early to speculate of the magnitude of the near-term revenue trajectory, HGSI expects to provide metrics on the launch trajectory on the 2Q11 earnings call."
"As HGSI / GlaxoSmithKline (NYSE: GSK) gear up for a Benlysta launch in the E.U., the question of pricing remains unanswered, though HGSI management reiterated that RA and MS drug price points range from mid-to-high-teens in the E.U. The company is happy with the proposed E.U. label, which will include subgroup analyses showing improved efficacy in the "high disease activity" patients, likely encouraging physician uptake in this patient population. While "high disease activity" can be defined by positive anti-dsDNA and low complement (below threshold levels), steroid use exceeding 7.5mg QD and high SLENA SLEDAI scores (not commonly used in clinical practice) would also meet this criteria."
"The availability of the Benlysta Q-code on July 1 (allows electronic submission similar to a J-code vs. manual review) should alleviate reimbursement concerns amongst physicians until the availability of the J-code on January 1..."
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 $26.92 yesterday.
Collins analyst said, "Management was positive on Benlysta's reimbursement progress to date, and while they noted that it is still too early to speculate of the magnitude of the near-term revenue trajectory, HGSI expects to provide metrics on the launch trajectory on the 2Q11 earnings call."
"As HGSI / GlaxoSmithKline (NYSE: GSK) gear up for a Benlysta launch in the E.U., the question of pricing remains unanswered, though HGSI management reiterated that RA and MS drug price points range from mid-to-high-teens in the E.U. The company is happy with the proposed E.U. label, which will include subgroup analyses showing improved efficacy in the "high disease activity" patients, likely encouraging physician uptake in this patient population. While "high disease activity" can be defined by positive anti-dsDNA and low complement (below threshold levels), steroid use exceeding 7.5mg QD and high SLENA SLEDAI scores (not commonly used in clinical practice) would also meet this criteria."
"The availability of the Benlysta Q-code on July 1 (allows electronic submission similar to a J-code vs. manual review) should alleviate reimbursement concerns amongst physicians until the availability of the J-code on January 1..."
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 $26.92 yesterday.
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