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Even on a day when the DOW drops 300 points at the open, there's sure to be a good news story somewhere.

Although down on Thursday morning, shares of Human Genome Sciences (HGSI) were up 12% on Wednesday following an announcement that sales of the company's recently-approved lupus drug Benlysta exceeded expectations. Benlyst became the first FDA approval for a lupus drug in over a half century when the FDA gave it the nod earlier in the year.

With the broad market dropping over the past couple of months, buying opportunities into companies such as Human Genome have opened up, and Wednesday's HGSI action is an example of why.

A report by analysts at Leerink Swann - who has a price target of $22 tagged on the HGSI stock - stated that August sales of Benlysta came in at $6.5 million, a tad higher than the $6.3 million that was expected. Benlysta is partnered with GlaxoSmithKline (GSK) and is expected to become a global revenue giant as approvals from around the world follow the approvals in North America.

HGSI is trading well off its 52-week high of $30.45, and given that the news and results surrounding the company have been nothing but positive, it's fair to assume that the share price could rebound to the levels predicted by the Leerink Swann analysts.

The company is still mounting losses, however, and that will be a concern for investors hesitant to play the speculative market during the current round of market volatility, but by the time the revenue increases to the point where all investors are satisfied, HGSI will most likely be trading for significantly higher than the current prices.

Additionally, Human Genome is a perennial buyout candidate in a time when it's popular to play the speculative biotech merger and acquisition rumor mill.

Another move earlier this year also boosted the company's pipeline potential, but the short term catalyst that investors are watching revolves around the growing Benlysta revenue stream - and that catalyst looks to be unfolding in a manner beneficial to HGSI and investors.

A good time to consider a buy.

Disclosure: Long HGSI.

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