Needham & Company Reiterates a 'Buy' on Gilead Sciences (GILD); Raising PT and Estimates
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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 $65.00 (from $56.00).
Analyst, Alan Carr, said, "Gilead announced yesterday that the FDA has approved Stribild (Quad Pill) for the treatment of HIV infection. Stribild is a fixed dose combination of emtricitabine, tenofovir, elvitegravir, and cobicistat. The company expects the drug to be commercially available by mid-week. WAC pricing is $2342/month, a premium compared to Atripla ($1734) and Complera ($1830). Although Gilead’s efforts in HCV are drawing more attention, we believe the HIV franchise still represents a meaningful growth opportunity for the company due to several favorable factors, including: Guidelines calling for immediate initiation of
treatment are likely to expand the market; Gilead will now have three single-tablet regimen options on the market, with more in development containing GS7340 as a replacement for tenofovir; and last, we expect margins to gradually improve as patients transition to Complera and Stribild." (FY13 EPS estimate raised by $0.02 to $4.35)
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 $57.19 yesterday.
Analyst, Alan Carr, said, "Gilead announced yesterday that the FDA has approved Stribild (Quad Pill) for the treatment of HIV infection. Stribild is a fixed dose combination of emtricitabine, tenofovir, elvitegravir, and cobicistat. The company expects the drug to be commercially available by mid-week. WAC pricing is $2342/month, a premium compared to Atripla ($1734) and Complera ($1830). Although Gilead’s efforts in HCV are drawing more attention, we believe the HIV franchise still represents a meaningful growth opportunity for the company due to several favorable factors, including: Guidelines calling for immediate initiation of
treatment are likely to expand the market; Gilead will now have three single-tablet regimen options on the market, with more in development containing GS7340 as a replacement for tenofovir; and last, we expect margins to gradually improve as patients transition to Complera and Stribild." (FY13 EPS estimate raised by $0.02 to $4.35)
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 $57.19 yesterday.
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