Barclays Maintains an 'Equalweight' on Human Genome Sciences (HGSI); Looking At $15/Share For GSK To Seal The Deal

Barclays maintains an 'Equalweight' on Human Genome Sciences (NASDAQ: HGSI) price target of $15.00.

Analyst, Ying Huang, said, "We have little conviction that darapladib will improve cardiovascular outcomes in the Phase III trials. Preclinical results support a potential mechanism for cardiovascular benefit. However, it remains to be seen whether stabilizing unstable and ruptured plaques will translate to clinical outcomes." (At 10% probability of success and estimated WW sales of $3 billion, Barclays sees NPV for darapladib at $2/share)

Huang sees GlaxoSmithKline (NYSE: GSK) ultimately acquiring HGSI for approx. $15/share, given their longstanding relationship/collaboration.

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 $14.70 yesterday.

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