Gilead Sciences (GILD): Cutting Numbers Slightly on Slower Switching - Leerink

August 24, 2016 6:33 AM EDT
Get Alerts GILD Hot Sheet
Price: $74.29 -0.03%

Rating Summary:
    23 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Leerink Partners analyst, Geoffrey Porges, reiterated his Outperform rating on shares of Gilead Sciences (NASDAQ: GILD) but cut the price target to $112.00 from $114.00. The analyst underestimated the company’s US volume growth but also overestimated the rate of switching from legacy products onto new TAF-based regimens. As a result of the updates, the analyst now forecasts a slightly lower Revenue/TRx trend due to slower-than-expected switching to TAF based regimens from legacy combinations.

The analyst is expecting Gilead’s HIV products to generate WW sales of $20.5bn in 2021E vs. the previous forecast of $22.6bn.

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 $81.47 yesterday.

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