Gilead Sciences (GILD) Target Lifted at Needham & Company Post Q4

February 5, 2014 6:52 AM EST Send to a Friend
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Price: $107.56 --0%

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Needham & Company analyst Alan Carr reiterated a Buy rating on Gilead Sciences (NASDAQ: GILD) and raised his price target from $85 to $95 following Q4 results.

"Gilead reported $3.04B in 4Q13 product sales, above our $2.76B estimate. Strong sales were driven in part by $130-150M in inventory stocking. Non-GAAP EPS of $0.55 was above our $0.47 and consensus $0.50 estimates. No Sovaldi sales guidance was provided. Sovaldi use by GT (70% GT1; 17% GT2; 12% GT3) appears to follow the broad U.S. HCV population, prompting mgmt to comment that patients may not be waiting for approval of an all-oral regimen in 4Q14. We have adjusted our Sovaldi estimates accordingly."

1Q14 and 2014 total revenue estimates are $4.04B (new) and $16.5B (was $13.9B). 1Q14 and 2014 WW single agent Sovaldi sales estimates are $1.13B (new) and $4.34B (was $1.78B).

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 $82.02 yesterday.




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