Goldman Sachs Reiterates Hold on Human Genome Sciences

Goldman Sachs reiterated its Hold rating on Human Genome Sciences HGSI after the company launched its new drug Benlysta. In a research report published today, Goldman Sachs states, "The early Benlysta launch appears to be tracking well, but we remain on the sidelines as we believe HGSI's current valuation captures the value of Benlysta for lupus. We make no changes to our HGSI US Benlysta estimates ($84mn/$402mn vs. consensus of $75mn/$389mn in 2011/2012)." At the moment, Goldman Sachs has a price target of $28 placed on the company's stock. On Thursday, Human Genome added 0.67% to its value to close the day at $26.93.