Gilead Sciences (GILD) Has Hidden NASH Value - Gabelli
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While Gilead Sciences (NASDAQ: GILD) is modestly lower Thursday following the suspension of its phase 2/3 for GS-5745, Gabelli analyst Jing He is highlighting the company's hidden value in NASH.
He sees the NASH market at $20 billion by 2025 and notes Gilead has the most comprehensive NASH portfolio with four NASH candidates.
Gilead is expecting two Phase II readouts from simtuzumab and GS-4997 (ASK-1 inhibitor) in 2H’16.
The analyst sees GILD as having a compelling valuation. "We are reiterating our Buy recommendation on Gilead. Its NASH portfolio is a hidden asset behind Hep C and HIV, with multiple readouts expected in 2H’16. We see increasing value in this franchise and believe Gilead will become a leader in NASH."
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