Gilead Sciences (GILD) PT Raised at Cowen as HCV Sales Drive Beat

Cowen analyst Phil Nadeau reiterated an Outperform rating and bumped his price target on Gilead Sciences (NASDAQ: GILD) to $130.00 (from $125.00) as HCV sales drove the top and bottom-line and guidance was ralsed.

Nadeau commented, "Gilead reported solid Q3 financials with HCV revenue ($4.8B vs $4.4BE), product sales ($8.2B vs $7.8BE), and non-GAAP EPS ($3.22 vs $2.83E) all ahead of consensus. While U.S. HCV scrips have been in decline for six months, Gilead thinks trends are stabilizing. We have adjusted our ests to reflect current trends, and our PT has increased from $125 to $130."

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 $110.96 yesterday.

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