widened its 2001 loss-per-share estimate for
Human Genome Sciences
to 69 cents from 39 cents Friday, a day after the company reported a loss of 5 cents a share for the fourth quarter.
Analyst Charles Duncan also cut Human Genome's price target to $83 from $125, which he called a "reflection of the market sentiment."
The company, based in Rockville, Md., licenses a proprietary database of genes and genetic sequences to pharmaceutical companies. In its earnings report, Human Genome said research and development costs will increase 50% to 70% from 2000 levels. Losses in 2001 are anticipated to be 56 cents to 72 cents a share. Analysts polled by First Call/Thomson Financial have were expecting a loss of 53 cents a share in 2001.
Human Genome fell $4, or 8.6%, to $42.44 Friday in