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Near-Term Headwinds And Long-Term Promise For Gilead Sciences

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Near-Term Headwinds And Long-Term Promise For Gilead Sciences

UBS says the focus on Gilead Sciences, Inc. (NASDAQ: GILD) is shifting to NASH amid weaker HCV sales. The brokerage maintains its Buy rating, as it remains encouraged by the top-line ' 4997 data in NASH and the company's plan to enter Phase 3 in the first quarter 2017 with combo studies beginning in mid-2017.

“We continue to believe that the NASH (non-alcoholic steatohepatitis) franchise is well-positioned to address the large market opportunity,” analyst Marc Goodman wrote in a note.

Goodman cut his total 2016 HCV estimates by $954 million to $15.3 billion after HCV sales globally fell 17 percent sequentially for the third quarter. Gilead reported third-quarter top-line product sales in line but missed on the bottom line by $0.11 on higher costs and taxes.

However, the company’s HIV sales came $190 million above consensus of $431 million.

Goodman reiterated his $118 price target on the stock, which was down 1.51 percent to $72.95 at last check.

Latest Ratings for GILD

DateFirmActionFromTo
Oct 2019ReinstatesNeutral
Jul 2019MaintainsNeutral
Jul 2019MaintainsStrong Buy

View More Analyst Ratings for GILD
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