Baird analysts remain extremely bullish on Human Genome Sciences, Inc. (Nasdaq:HGSI), saying they would be "aggressive buyers" of the company.
They maintain their "Outperform" rating and price target on the company.
Baird analyst Christopher Raymond said, "While a three-month administrative delay beyond Benlysta's December 9 PDUFA is expected, the positive FDA AdCom vote did significantly de-risk the drug, in our view. Given this, and given the market misperceptions addressed herein, we would be aggressive buyers."
Citing a short window to PDUFA, their EPS estimates for the first quarter of 2011, full year 2011, and full year 2012 were lowered to $1.6 million, $161.4 million, and $793.8 million.
Human Genome Sciences closed Monday at $24.79, losing $0.11, or 0.44 percent. Baird has a price target of $32 on the company.
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