Needham & Company Reiterates a 'Buy' on Gilead Sciences (GILD); Update Frtom 2012 CROI Meeting
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Price: $138.36 +0.16%
Rating Summary:
36 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
36 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Gilead Sciences (NASDAQ: GILD) price target of $54.00.
Analyst, Alan Carr, said, "Gilead hosted a conference call yesterday in conjunction with the CROI meeting. Key highlights of the meeting include detailed results from the Quad pill Phase 3 HIV program and an update on the GS7977 ELECTRON trial in HCV. The emerging Quad pill profile appears generally more attractive than EFV and ATV regimens, but the differences are not profound. The latest HCV data confirm that longer treatment (e.g. 24 wks) or a combination of direct antivirals will be needed in GT1 nullresponder patients. Despite GS7977 limitations, we believe Gilead is still in a strong competitive position because it has several in-house assets to combine with GS7977. We anticipate an all-oral pan-GT launch in HCV in early 2015."
Needham lowers FY12 EPS estimate from $3.80 to $3.68, but raises FY13 from $4.16 to $4.18.
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 $45.48 yesterday.
Analyst, Alan Carr, said, "Gilead hosted a conference call yesterday in conjunction with the CROI meeting. Key highlights of the meeting include detailed results from the Quad pill Phase 3 HIV program and an update on the GS7977 ELECTRON trial in HCV. The emerging Quad pill profile appears generally more attractive than EFV and ATV regimens, but the differences are not profound. The latest HCV data confirm that longer treatment (e.g. 24 wks) or a combination of direct antivirals will be needed in GT1 nullresponder patients. Despite GS7977 limitations, we believe Gilead is still in a strong competitive position because it has several in-house assets to combine with GS7977. We anticipate an all-oral pan-GT launch in HCV in early 2015."
Needham lowers FY12 EPS estimate from $3.80 to $3.68, but raises FY13 from $4.16 to $4.18.
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 $45.48 yesterday.
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