Human Genome Sciences Inc. Earnings Cheat Sheet: Missing Expectations as Loss Widens

Human Genome Sciences, Inc. (NASDAQ:HGSI) reported its results for the third quarter. Human Genome Sciences is a commercially focused biopharmaceutical company.

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Human Genome Sciences Earnings Cheat Sheet for the Third Quarter

Results: Loss widened to $88.4 million (45 cents per diluted share) from $40.9 million (loss of 22 cents per share) in the same quarter a year earlier.

Revenue: Fell 33% to $34 million from the year earlier quarter.

Actual vs. Wall St. Expectations: HGSI fell short of the mean analyst estimate of a loss of 39 cents per share. It fell short of the average revenue estimate of $37.3 million.

Quoting Management: “We are seeing solid progress in the trial and adoption of BENLYSTA treatment for systemic lupus by rheumatologists in the United States,” said H. Thomas Watkins, President and Chief Executive Officer. “The number of key accounts that have begun to order BENLYSTA has increased substantially. The number of countries in which BENLYSTA is available continues to increase. We and GSK look forward to making BENLYSTA available around the world.”

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 35.9% to $24.9 million in the second quarter. The figure fell 42.9% in the first quarter from the year earlier and dropped 59.8% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company fell short of estimates last quarter after being in line with expecations the quarter before with a loss of -42 cents.

Looking Forward: Analysts seem more positive about the company’s results for the next quarter than a month ago. The average estimate for the fourth quarter has moved from a loss of 35 cents a share to a loss of 34 cents over the last thirty days. For the fiscal year, the average estimate has moved from a loss of $1.86 a share to a loss of $1.83 over the last sixty days.

Competitors to Watch: GlaxoSmithKline plc (NYSE:GSK), Immunomedics, Inc. (NASDAQ:IMMU), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), Amgen, Inc. (NASDAQ:AMGN), Biogen Idec Inc. (NASDAQ:BIIB), AstraZeneca plc (NYSE:AZN), Merck & Co., Inc. (NYSE:MRK), Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX), Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), and Peregrine Pharmaceuticals (NASDAQ:PPHM).

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(Source: Xignite Financials)