Brean Murray Carret & Co. Initiates Coverage On HGSI

Brean Murray Carret & Co. are initiating coverage on Human Genome Sciences HGSI with a Buy rating and a price target set at $22. Says Brean Murray Carret &Co., in the report, “ The company's key driver is Benlysta, a novel IV therapeutic now approved as a chronic therapy to treat systemic lupus erythematosus. We believe the Street is underestimating the market potential of Benlysta, the first drug ever to show a treatment benefit in SLE patients.” Brean Murray Carret & Co. additionally stated that they believe any hesitations held by investors will quickly dissipate following the launch of Benlysta. HGSI closed at $13.79 yesterday.