Bank Of America Rates Human Genome Sciences Underperform

According to Bank of America, Human Genome Sciences HGSI is rated Underperform. Bank of America said that it found mixed results from our survey of 150 US physicians designed to assess initial market expectations for HGSI/GSK's recently launched lupus drug Benlysta. “Better than expected near term projected adoption gets us optimistic that HGSI can meet or beat consensus sales estimates for 2011-2012, but that positive sentiment is offset by new longer term concerns on peak sales, driven by lower than expected patients ultimately eligible for drug and higher than expected projected drug discontinuation rates.” Human Genome Sciences closed yesterday at $25.64.