Market Overview

UPDATE: Oppenheimer Raises Gilead PT on Promising Oncology Pipeline

Share:
Related GILD
Assessing The Legitimacy Of The Biotech ETF Bounce
How Incyte Just Became A Major M&A Target
Trump As Reagan 2.0 - The Analogy Is Working: What's Next (Seeking Alpha)

Oppenheimer analyst David Ferreiro published a report Wednesday that maintained an Outperform rating on Gilead Sciences (NASDAQ: GILD) and increased the price target from $45 to $50.

Ferreiro wrote, "We reviewed GILD's oncology pipeline, focusing on lead candidates idelalisib (PI3K inhibitor) for NHL/CLL and CYT387 (JAK inhibitor) for myelofibrosis. Based on their MoAs and favorable ph.I/II datasets, we see a high probability of ph.III success for these compounds. Although both face significant competition, we believe little to no value is priced into shares for these compounds. We are now including very conservative base-case estimates for idelalisib/CYT387, with room for upside potential. Although ph.III readouts will not occur until 2014-2016, we believe value for these candidates and the overall oncology pipeline will begin to creep into shares toward year-end."

Gilead closed Wednesday at $45.90.

Latest Ratings for GILD

DateFirmActionFromTo
Nov 2016Stifel NicolausInitiates Coverage OnBuy
Nov 2016MizuhoInitiates Coverage OnBuy
Nov 2016BMO CapitalUpgradesMarket PerformOutperform

View More Analyst Ratings for GILD
View the Latest Analyst Ratings

Posted-In: Oppenheimer & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (GILD)

View Comments and Join the Discussion!