Human Genome Sciences (HGSI) Climbs Higher On Takeover Speculation

Shares of Human Genome Sciences Inc. (Nasdaq: HGSI) are continuing to climb higher today and traders are chatting about a potential takeover of the company. Shares are up 6.5% currently.

Speculators are pointing to the Piper Jaffray research report this morning,�in which the firm raised their price target on HGSI from $15 to $25. The comment that has speculators salivating was "if BLISS-76 data is positive, we see a real chance that partner GlaxoSmithKline (NYSE: GSK)acquires HGS." The firm notes GSK shares Benlysta and daraplatib for the treatment of atherosclerosis, and has rights to Syncria for diabetes. They also said HGS has a history of significant net operating loss (NOLs) that they see as a "tax-free coupon" for a potential acquirer.

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