Leerink Swann Downgrades Human Genome Sciences (HGSI) to Market Perform; Limited Visibility
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Price: $14.24 --0%
Rating Summary:
3 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 17 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Leerink Swann downgraded Human Genome Sciences (NASDAQ: HGSI) from Outperform to Market Perform, price target lowered from $22 to $16.
Analyst, Joseph P. Schwartz, said, "...we see limited visibility on upside from current levels. GlaxoSmithKline (NYSE: GSK) has reiterated and decided to go hostile with its $13 offer for HGSI, whose board is reviewing and considering the offer and will advise shareholders of its recommendation within ten business days of the start of GSK's tender offer...HGSI may be able to get GSK to pitch in another couple dollars per share, but we lack conviction in greater upside than that, given current business trends and no emergence of other bidders yet."
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 $14.59 yesterday.
Analyst, Joseph P. Schwartz, said, "...we see limited visibility on upside from current levels. GlaxoSmithKline (NYSE: GSK) has reiterated and decided to go hostile with its $13 offer for HGSI, whose board is reviewing and considering the offer and will advise shareholders of its recommendation within ten business days of the start of GSK's tender offer...HGSI may be able to get GSK to pitch in another couple dollars per share, but we lack conviction in greater upside than that, given current business trends and no emergence of other bidders yet."
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 $14.59 yesterday.
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