UBS Sees a 'Buying Opportunity' in Human Genome

Analyst Meirav Chovav cites negative study results in the biotech firm's ulcer treatment

UBS Warburg sees a buying opportunity in Human Genome Sciences (HGSI ).

Analyst Meirav Chovav says the company announced that its Phase II trial of topical Repifermin in venous ulcers did not meet its goals, and says it will discontinue developing the drug for this indication. Chovav believes the discontinuation of Repifermin in wound healing will allow Human Genome to focus resources in more promising areas of its pipeline.

She says she's optimistic about the LymphoStat-B program in lupus. Also, Chovav believes any weakness in Human Genome shares represents a buying opportunity. She maintains her buy rating and $19 target.

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