Gilead Sciences (GILD) Estimates, PT Lowered at Baird
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Baird analyst Brian Skorney lowered 3Q16 Hep C estimates and his price target on Outperform-rated Gilead Sciences (NASDAQ: GILD) to $100.00 (from $122.00) on Rx data analysis.
Skorney commented, "As questions about the durability of Hep C sales plague GILD shares, we've taken a deeper look into the pace of U.S. Hep C prescriptions this quarter to adjust our model. Encouragingly, trends indicate that core new prescriptions (i.e., ex-Epclusa) may be stabilizing. We have modestly adjusted our 3Q16 revenue estimates for Gilead's portfolio, and continue to think consensus is setting them up for another miss on Hep C. We are lowering our target price to $100."
Shares of Gilead Sciences closed at $72.64 yesterday.
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