Human Genome Shares Fall On Lazard Analyst Outlook

NEW YORK (AP) — Shares of Human Genome Sciences Inc. reversed course Friday, giving back gains made from positive midstage data on a lupus drug candidate as a Lazard Capital analyst cast doubt on the treatment's ultimate success.

The stock lost 38 cents, or 11.9 percent, to reach $2.81 in afternoon trading. The movement is a reverse from Thursday, when the stock rallied 18 percent as the company said its drug candidate Benlysta reduced lupus symptoms over a four-year period in a study.

The long-term study comes ahead of expected late-stage clinical trial data in July. Results from a second late-stage study are expected in November. Several analysts said the midstage study results foreshadow positive results for the late-stage clinical trials. On Friday though, Lazard Capital Markets analyst Terence Flynn downgraded shares to "Sell" from "Hold" and issued a $1 price target while casting doubt on future clinical successes for the drug candidate. ...