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Robertson Stephens upgraded Human Genome (HGSI
)to strong buy from buy.
Analyst Michael King says the upgrade was based on strong fundamentals, upcoming clinical milestones and the rights to a genomic database reverting back to the company on June 30. He expects two new partnerships in the second half and a positive
news flow through the summer. He says the company has a rich preclinical pipeline, and expects as many as three additional Investigational New Drug applications this year.
King sees the company building one of most its formidable biopharmaceutical product portfolios over the next several years and says Human Genome is one of his favorite picks for 2001. He sees a $0.64 2001 loss and a $0.66 2002 loss.