Needham & Company Maintains a 'Buy' on Gilead Sciences (GILD); Believe Stock is Underappreciated

Needham & Company maintains a 'Buy' on Gilead Sciences (NASDAQ: GILD).
Needham analyst says, "We do not anticipate any development catalysts for the stock in 4Q11. Broadly, however, we believe the stock is underappreciated. Recent progress in late-stage development of the Quad pill and Complera ensure a long-term presence in HIV. We await an update from Gilead regarding the possibility of a collaboration around J&J’s Prezista. Such an agreement would further solidify Gilead’s long-term dominant position in HIV, allowing for once daily regimens containing either a nonnucleoside reverse transcriptase inhibitor (Atripla or Complera), a protease inhibitor (Prezista+GS7340+Emtriva+cobicistat), or an integrase inhibitor (Quad pill). We believe Gilead’s efforts and assets in HCV are substantially underappreciated and may provide a boost to revenue growth in the intermediate to long-term."

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 $39.67 yesterday.

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