Human Genome Sciences, Inc (HGSI)

[Bart Myers]

J.P. Morgan is out with its report today on Human Genome Sciences (NASDAQ: HGSI), maintaining Overweight.

In a note to clients, J.P. Morgan writes, "After market close, HGSI announced an in-licensing deal with FivePrime Therapeutics for FP-1039, an FGF fusion protein in Ph1 development for cancer. This development does not come as much of a surprise as management had been openly discussing the possibility that they would add to their oncology pipeline. If anything, we're somewhat relieved that they didn't make a bigger bet that could have diverted attention away from the pending launch of Benlysta (for lupus). We do not expect HGSI shares to react significantly one way or another given the early stage of this asset and the relatively modest price paid ($50M upfront). Maintain OW."


Source: http://www.benzinga.com/analyst-ratings/analyst-color/11/03/932700/j-p-morgan-maintains-overweight-on-human-genome-sciences-#ixzz1Gru9bwQK