Gilead (GILD) Q1 'One of Most Impressive Beats in Biopharma History' - Piper Jaffray

Piper Jaffray analyst Joshua Schimmer reiterated an Overweight rating on Gilead Sciences (NASDAQ: GILD) and bumped his price target price target from $105 to $106 following impressive Q1 results and said the stock is officially a 'value' stock.

Schimmer comments, "GILD reported one of the most impressive beats in biopharma history, led by Sovaldi's $2.27B vs consensus $0.94B and was above expectations in the U.S., EU and ROW. Equally importantly, the performance highlighted the sizable upside on operating margins and taxes. As consensus estimates increase to reflect these factors, we believe GILD will appeal to value investors (and, eventually dividend investors). Along with ongoing launch execution in EU/ROW, the all-oral GT1 combination in the U.S. and beyond and advancing the pipeline including idelalisib, this bodes well for share outperformance. We reiterate our OW rating; our PT increases from $105 to $106. With our new estimates, GILD now trades at just 12x our 2015 EPS estimate and 10x our 2015 EPS estimate, both of which may yet prove conservative."

For an analyst ratings summary and ratings history on Gilead Sciences click here. For more ratings news on Gilead Sciences click here.

Shares of Gilead Sciences closed at $72.86 yesterday.

You May Also Be Interested In

• QuantumScape (QS) PT Lowered to $6 at Truist Securities
• American International Group (AIG) PT Raised to $89 at Piper Sandler
• Synovus Financial (SNV) PT Lowered to $42 at Piper Sandler