Baird Maintains an 'Outperform' on Human Genome Sciences (HGSI); Disappointed & Lowering Numbers, but Think Patience Will Be Rewarded

Baird maintains an 'Outperform' on Human Genome Sciences (NASDAQ: HGSI) price target now $19.00.

Baird analyst says, "Remain buyers despite reducing Benlysta estimates and price target (now $19) substantially. A $1M Benlysta miss ($19M versus $20M) we can accept. However, more troubling are intermediate trends (decelerating monthly revenue) and longer-term guidance (delayed profitability), which conflict with our survey data which we still think correctly characterizes positive physician prescribing intentions. With numerous marketing initiatives to convert intent into action still on the come, we think investors will ultimately be rewarded here - just not as soon as hoped."

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 $12.73 yesterday.

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