UPDATE: Collins Stewart Downgrades Human Genome Sciences to Neutral

Collins Stewart lowers its rating on Human Genome Sciences HGSI to Neutral, as survey suggests lackluster performance in 2012. Target price is at $10. Collins Stewart says, "We are presenting the results of our 4Q11 Benlysta tracking survey (N=30), which suggests that 83% of physicians expect to treat an average of 4.6 patients by mid-2012 and 87% expect to treat an average of 11 by YE12 (vs. 53% treating 5.1 in Dec). ...With HGSI shares up 15% YTD (vs. NBI +12%) and concerns on HGSI's ability to meet FY12+ Benlysta estimates, we are downgrading to Neutral and lowering our PT to $10 from $17." HGSI closed at $8.36 a share on Wednesday.