Close

Gilead Sciences (GILD) Q1 'As Good as it Gets' - Nomura

April 23, 2014 7:39 AM EDT
Get Alerts GILD Hot Sheet
Price: $73.26 -0.58%

Rating Summary:
    24 Buy, 16 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
Join SI Premium – FREE

Nomura Securities analyst M. Ian Somaiya reiterated a Buy rating and boosted his price target on Gilead Sciences (NASDAQ: GILD) from $121 to $130 calling Q1 'as good as it gets.'

We are raising our HCV sales estimates and target price to $130 from $121 following 1Q earnings, where Sovaldi sales of $2.3bn came in well ahead of our $1.5bn estimate and the Street’s $839mn estimate. As expected, HIV sales were negatively affected by inventory drawdown. With inventory levels now at the low end of normal levels, we look for HIV sales to grow in 2Q, supporting management maintaining total product sales guidance, excluding HCV of $11.3-11.5bn. We see Gilead as setting the bar in treatment naïve setting with 94% cure rate after just 8 weeks. We look for accelerated share repurchases following Sovaldi launch and recent debt financing.

FY14E EPS at $5.68; FY15E EPS at $7.66.

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.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Nomura, Earnings