Gilead Sciences (GILD) PT Bumped to $98 at BMO Capital Posts Q2, Remains Sidelined
BMO Capital analyst Ian Somaiya bumped his price target on Gilead Sciences (NASDAQ: GILD) to $98.00 (from $97.00) but maintained a Market Perform rating following Q2 results after the close.
Somaiya commented, "Gilead's 2Q16 results support our below-consensus view of the company's HCV franchise and our belief that the Street continues to underestimate the new single-tablet HIV regimens. Although the 2Q16 results provided little to fuel the renewed interest in biotech and specifically GILD, we believe revised revenue guidance sets a floor and provides investors an opportunity to start to build a position ahead of visibility into HBV and NASH pipeline in 2017. The next key catalyst for GILD remains BD as management needs to fill its pipeline gap."
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 $88.55 yesterday.