Deutsche Bank Reiterates Buy Rating, $48 PT on Gilead Sciences on IMS Weekly Script Analysis
In a report published Monday, Deutsche Bank reiterated its Buy rating and $48.00 price target on Gilead Sciences (NASDAQ: GILD).
Deutsche Bank noted, “Analysis of IMS Weekly scripts for week 9 of 1Q:13 (week 9 of 13) indicates that GILD's HIV franchise at $1,228.8M is tracking $66.4M better than consensus of $1,162.4M. Both Atripla &Truvada are tracking better than our projections respectively by +$22.1M & +$33.0M. Price increases were taken Jan 1 2013 on Truvada, Atripla, Complera, Viread, and Emtriva. This is additive to 1Q13 sales. Without these price increases, sales (ex-Stribild) would be tracking roughly $12.9M above consensus. Though early in launch, Stribild is tracking $21.4M better than consensus of $62.2M in 1Q13.”
Gilead Sciences closed on Friday at $45.43.
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