On Thursday, Shares of Gilead Sciences Inc. (NASDAQ:GILD), surged 3.30% to $101.64.
Gilead Sciences Inc. (NASDAQ:GILD) is predictable to report its quarterly earnings by the end of this month. According to Brian Abrahams, analyst at Jefferies, the biotech giant is predictable to report mixed results for the third quarter, according to Bidnessetc.
Mr. Abrahams maintained a Hold rating on Gilead while lowering the price target from $115 to $107. Moreover, the analyst revised the EPS estimates for this quarter from $2.93 to $2.94, and for full year 2015 from $12.13 to $12.11.
Gilead generated the major chunk of its sales from its HIV portfolio, before its HCV drug launches, . Presently the HCV portfolio is the second top revenue generating portfolio for the biotech. While talking about the HIV sales, the analyst anticipates slight improvements in Atripla and Truvada and slight decreases in Stribild and Complera, based on updated weekly prescription trends. Bidnessetc Stated
Mr. Abrahams noted, “the HIV franchise (project $20-60M beats across STR products) this quarter, which should enable a meaningful bottom-line beat ($2.94, vs. $2.81 consensus) albeit a “weaker” beat given the importance of US Harvoni for GILD’s future revenue sustainability.”
The analyst maintained a neutral rating on Gilead, on the biotech’s low multiple which is already showing HCV uncertainties, in addition to difficulties to be faced by the company with potential BD developments and upon balancing the upside/downside potential from possible near term catalysts, counting the company’s developing NASH treatment candidates. Bidnessetc Reports
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical need in North America, South America, Europe, and the Asia-Pacific.
On other hand, Shares of PDL BioPharma, Inc. (NASDAQ:PDLI), declined -3.62% to $4.66.
The most recent price of PDL BioPharma, is now at a discount to the 12-month high of $8.60 hit on Oct 24, 2014. The last price is at a premium to the 52-week low of $4.58 suffered on Aug 24, 2015. The stock, as of recent close, has shown weekly downbeat performance of -8.9% which was maintained at -39.62% in this year.
PDL BioPharma, Inc. manages a portfolio of patents and royalty assets in the United States and Europe. The company is involved in the humanization of monoclonal antibodies and the discovery of a new generation of targeted treatments for cancer and immunologic diseases.
