Human Genome Sciences, Inc. (NASDAQ: HGSI) is holding up better than one might expect if analysts still have any power. The good news is that they all got caught the wrong way being bullish before, so maybe this time they are wrong too. There are two research reports from analysts this morning with downgrades.
RBC Capital Markets cut the rating on Human Genome down to “Sector Perform” this morning, and another downgrade came from Piper Jaffray cutting the rating to Neutral from Overweight.
Shares are down 1.3% at $8.80 after a $8.92 close on Tuesday. The 52-week trading range is $6.51 to $30.15. Keep in mind that shares had been back as high as $10.00 as recently as February 9.
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