UPDATE: Citadel Securities Initiates Coverage on Human Genome Sciences

Citadel Securities has published a report on Human Genome Sciences (NASDAQ: HGSI) initiating coverage on the biotech company.

In the report, Citadel wrote, "We believe investors and the Street are singularly focused on Benlysta, resulting in the opportunity for potential upside on the “hidden value” of the company's pipeline, which includes two GSK Phase III assets to which HGSI has substantial financial rights."

Citadel rated Human Genome Sciences an ADD with a price target of $25.00. Human Genome Sciences closed Friday at $15.81.