Gilead (GILD), AbbVie (ABBV) Buy Ratings Maintained at Deutsche Bank Following Merck (MRK) HCV Data

Deutsche Bank maintained Buy rating on Gilead Sciences (NASDAQ: GILD) and AbbVie (NYSE: ABBV) following Merck (NYSE: MRK) phase 3 data HCV data. In the view of analyst Robyn Karnauskas, data was in-line with expectations.

"MRK released data from one of its phase 3 studies for HCV and the cure rates of 95%+ are in line with expectations and similar to what we have previously seen with GILD and Abbvie Regimens. As we noted yesterday, we expected success based on phase 2 C-worthy data which showed cure rates of 98% without Riba. As we highlighted earlier, we are accounting for MRK entry in mid-2016 and model competition accordingly. On the other hand, phase 2 data for AbbVie’s next gen PI (protease Inhibitor) indicate 99% SVR4 rates which indicate sustainability of AbbVie’s HCV franchise and would help AbbVie remain competitive to GILD and MRK in long term," said the analyst.

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 $98.69 yesterday.

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