Barclays on U.S. Pharma: A New Era for Hep C Therapy - Starts Coverage on GILD & IDIX
Tweet
Share
E-mailGet Alerts GILD Hot Sheet
Price: $66.43 +0.41%
Rating Summary:
24 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
24 Buy, 16 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
This morning, Barclays initiated coverage on Gilead (Nasdaq: GILD) with an Overweight rating and $67 price target. The firm also started coverage on Idenix (Nasdaq: IDIX) with an Equalweight rating and $10 price target.
Analyst, C. Anthony Butler, said, "The race towards developing the second-generation of direct antivirals (DAAs) may be a dead-heat. By the end of this decade, we believe two dominant therapy types will emerge for hepatitis C (HCV) patients: 1) a combination of a nucleotide polymerase inhibitor (Nuc) and ribavirin; and 2) a cocktail of a nucleotide polymerase inhibitor and one or two DAAs of other mechanisms."
"GILD has leapfrogged competitors through the bold acquisition of Pharmasset, and its stock move (+32.7% YTD vs NASDAQ +11.8%) reflects the market sentiment that GILD is leading the HCV race. We estimate that GILD could capture ~40% of the US HCV market by 2020 and US sales would peak at $2.8B in 2017."
"IDIX needs to find a home for its Nuc IDX184 in order to remain a contender."
Currently, shares of IDIX are trading down 1.25% and shares of GILD are flat on the session.
Analyst, C. Anthony Butler, said, "The race towards developing the second-generation of direct antivirals (DAAs) may be a dead-heat. By the end of this decade, we believe two dominant therapy types will emerge for hepatitis C (HCV) patients: 1) a combination of a nucleotide polymerase inhibitor (Nuc) and ribavirin; and 2) a cocktail of a nucleotide polymerase inhibitor and one or two DAAs of other mechanisms."
"GILD has leapfrogged competitors through the bold acquisition of Pharmasset, and its stock move (+32.7% YTD vs NASDAQ +11.8%) reflects the market sentiment that GILD is leading the HCV race. We estimate that GILD could capture ~40% of the US HCV market by 2020 and US sales would peak at $2.8B in 2017."
"IDIX needs to find a home for its Nuc IDX184 in order to remain a contender."
Currently, shares of IDIX are trading down 1.25% and shares of GILD are flat on the session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TD Cowen Resumes EQT Corp. (EQT) at Hold
- CIMC Enric Holdings Ltd. (3899:HK) (CIMEF) PT Lowered to HK$8.70 at HSBC
- B.Riley Resumes Magnite (MGNI) at Buy
Create E-mail Alert Related Categories
Analyst Comments, New CoverageRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
