Jefferies Cuts Price Target on Gilead Sciences (GILD), Notes Positive Quad Feedback From HIV Survey
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Price: $138.92 +0.40%
Rating Summary:
36 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
36 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Jefferies is maintaining its Hold rating on shares of Gilead Sciences (NASDAQ: GILD) while lowering their price target from $43 to $41.
Feed back from a survey that the firm conducted of 99 HIV physicians resulted in positive feedback on GILD's quad pill. The firm notes that it isn't that surprising if it proves to be superior in its Phase 3 outcome.
Many physicians expressed a preference for Atripla if the quad demonstrates non-inferiority in Phase 3. The firm believes that this may not prove to be the case as Physicians begin to see the other advantages, for example weaker side effects.
Jefferies reports that physicians also expressed a preference for quad over Dolutegravir/GSK572. Due to an overall lack of knowledge from a large portion of the sample population, the firm does not know how accurate this fact is. They feel that the results may have been somewhat different if more physicians had awareness of the dolutegravir data.
An analyst at Jefferies comments, "We emerge from our survey incrementally more positive, with less concern about dolutegravir competition but more concern about the quad needing to show superiority, both to unseat Atripla near-term and to prevent erosion of the branded HIV market following the launch of generic Atripla alternatives in 2018."
The firms current 2011 EPS estimate if $3.99, its 2012 estimate is $4.27, and its 2013 estimate is $4.66.
For more ratings news on Gilead Sciences click here and for the rating history of Gilead Sciences click here.
Shares of Gilead Sciences closed at $35.34 yesterday.
Feed back from a survey that the firm conducted of 99 HIV physicians resulted in positive feedback on GILD's quad pill. The firm notes that it isn't that surprising if it proves to be superior in its Phase 3 outcome.
Many physicians expressed a preference for Atripla if the quad demonstrates non-inferiority in Phase 3. The firm believes that this may not prove to be the case as Physicians begin to see the other advantages, for example weaker side effects.
Jefferies reports that physicians also expressed a preference for quad over Dolutegravir/GSK572. Due to an overall lack of knowledge from a large portion of the sample population, the firm does not know how accurate this fact is. They feel that the results may have been somewhat different if more physicians had awareness of the dolutegravir data.
An analyst at Jefferies comments, "We emerge from our survey incrementally more positive, with less concern about dolutegravir competition but more concern about the quad needing to show superiority, both to unseat Atripla near-term and to prevent erosion of the branded HIV market following the launch of generic Atripla alternatives in 2018."
The firms current 2011 EPS estimate if $3.99, its 2012 estimate is $4.27, and its 2013 estimate is $4.66.
For more ratings news on Gilead Sciences click here and for the rating history of Gilead Sciences click here.
Shares of Gilead Sciences closed at $35.34 yesterday.
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