JMP keeps Human Genome at market outperform

Human Genome Sciences Inc. was reiterated at market outperform with a target price of $15 by JMP Securities analysts Charles C. Duncan and Anthony Ostrea. The company's third-quarter results showed a significant jump in revenue - $5.9 million, versus $0.7 million for the third quarter of 2004 and JMP's estimate of $1 million - due to milestone payments from GlaxoSmithKline related to a licensing agreement for Albugon. Additionally, relative spending control resulting in a lower-than-expected loss of $0.42 per share, versus JMP's estimate of $0.47. JMP lowered its 2005 loss estimate to $1.85 per share from $1.91. Shares of the Rockville, Md.-based genomics and biopharmaceutical company were down $0.19, or 2.27%, at $8.18 on volume of 2,113,248 shares versus the three-month running average of 3,720,940 shares.

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