Piper Jaffray Comments On Flat IMS Sales And Impact On Human Genome Sciences

According to Piper Jaffray, Human Genome Sciences HGSI is impacted by flat IMS sales. Piper Jaffray said that IMS reported July Benlysta sales of $5.0mn, down from $5.2mn in June. “Our price target of $18 is based on a 1-year forward P/E multiple of 40x our 2015 fully taxed non-GAAP EPS estimate of $0.86, discounted at 25%.” Human Genome Sciences closed yesterday at $13.13.