Collins Stewart Downgrades Human Genome Sciences (HGSI) to Neutral; Survey Suggests Lackluster 2012

Collins Stewart downgraded Human Genome Sciences (NASDAQ: HGSI) to Neutral, price target cut from $17 to $10.

Collins analyst says, "We are presenting the results of our 4Q11 Benlysta tracking survey (N=30), which suggests that 83% of physicians expect to treat an average of 4.6 patients by mid-2012 and 87% expect to treat an average of 11 by YE12 (vs. 53% treating 5.1 in Dec). Extrapolating this to the 2.3K target physicians suggests FY12 Benlysta sales of ~$197.1M (likely an overestimation, as 87% of physicians in our survey are academic-based and potentially early adopters) vs. consensus of $216.1M and CSe of $213.5M."

For an analyst ratings summary and ratings history on Human Genome Sciences click here. For more ratings news on Human Genome Sciences click here.

Shares of Human Genome Sciences closed at $8.36 yesterday.

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