Needham & Company Remains Sidelined on Gilead Sciences (GILD) Following 4Q
Needham & Company reiterated a Hold rating on Gilead Sciences (NASDAQ: GILD) following the company's 4Q earnings report.
Analyst Alan Carr commented, "Gilead reported 4Q16 financial results yesterday. Total 4Q16 revenue of $7.32B exceeded our $6.86B and consensus $7.14B estimates, driven by strong Epclusa launch in HCV ($1.05B WW). HCV sales overall, however, continue to fall and mgmt issued 2017 sales guidance below expectations. We remain cautious given revenue trajectory and maintain HOLD."
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Shares of Gilead Sciences closed at $73.13 yesterday.