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Strong Gilead 3Q
Associated Press 10.17.08, 9:11 AM ET
Gilead Sciences Inc. shares may take a step toward recovery thanks to a third-quarter profit that jumped 27 percent and beat Wall Street expectations, according to a research note from Thomas Weisel Partners.
The Foster City, Calif.-based biotechnology company said Thursday its net income for the quarter rose to $504 million, or 52 cents per share, and revenue shot up 30 percent to $1.37 billion, driven by strong sales of HIV drugs Atripla and Truvada.
Analysts polled by Thomson Reuters expected profit of 49 cents per share on sales of $1.32 billion.
Thomas Weisel said it was raising revenue estimates for the company through 2011 based on the strength of the HIV drugs.
"These results should ease investor concern regarding the growth prospects for the HIV franchise and enable the stock to recover," analyst M. Ian Somaiya said in a note. But he added that a strong fourth quarter may be needed "for the masses to come back to the stock."
Gilead shares rose to $43.20 in premarket trading, up from $41.39 at Thursday's close. They have fallen from $57.10 on Aug. 12.
Several other analysts also praised Gilead's performance. PiperJaffray's Thomas Wei said in a note the company "is one of our top picks based on upside from HIV sales."
Goldman Sachs increased its 2008 earnings forecast to $2 per share from $1.96.
"We continue to regard Gilead as a top growth company," said the note from analyst Meg Malloy.
http://www.forbes.com/feeds/ap/2008/10/17/ap5569003.html
October 17, 2008 12:20 PM EDT
Baird reiterates an 'Outperform' rating on Gilead Sciences (Nasdaq: GILD). Price target lowered from $57 to $54.
Baird analyst says, "GILD delivered from top to bottom in its Q3 report, which against the current backdrop, should deliver a positive catalyst. The EPS beat story returned, the HIV growth story proved alive and well, and sources of recent commotion/concern were addressed favorably. Our recent thesis on GILD is fully intact, we expect to see shares rally, and we believe GILD's high-quality/low-risk growth will return to favor in these markets."
http://www.streetinsider.com/Analys...nces+(GILD),+Recommends+Purchase/4075963.html
3:23 p.m. EDT Oct. 16, 2008
Gilead Sciences Inc. (NASDAQ: GILD) has just issued its third quarter earnings at $0.52 net EPS and $0.55 non-GAAP EPS and $1.37 billion in revenues. First Call had estimates at $0.49 non-GAAP EPS and $1.32 billion in revenues. But more important than earnings were some key metrics which might be accounting for some issues.
This was a record quarter for the biotech giant with a 39% product sales gain. Antviral sales grew 39% to $1.23 billion from sales of AIDS drugs Atripla growing 77% to $427.6 million, Truvada growing 34% to $549.1 million, and Viread sales grew almost 5% to $156 million. Hepsera for chronic hepatitis grew 15% to $91.2 million. AmBisome for severe fungal infections grew 6% to $72.9 million.
Its royalty business revenues fell 66% to $96.9 million from lower Tamiflu sales and royalties by Hoffman La-Roche. There is an interesting note here on currencies, and one which might take some thunder out of the numbers. Currencies gave a favorable result of $58.8 million to revenues and $36.7 million of the earnings when you compare it to the Q3-2007 levels.
Gilead also plans to spend $750 million for share buybacks on an accelerated basis out of the $3 billion plan announced last year.
We did not get formal guidance from the company. It appears that shares aren't rallying as much as you might have guessed because of those currency numbers and perhaps on some drops in royalties.
http://www.marketwatch.com/news/sto...www.247wallst.com/2008/10/gilead-boosted.html
Associated Press 10.17.08, 9:11 AM ET
Gilead Sciences Inc. shares may take a step toward recovery thanks to a third-quarter profit that jumped 27 percent and beat Wall Street expectations, according to a research note from Thomas Weisel Partners.
The Foster City, Calif.-based biotechnology company said Thursday its net income for the quarter rose to $504 million, or 52 cents per share, and revenue shot up 30 percent to $1.37 billion, driven by strong sales of HIV drugs Atripla and Truvada.
Analysts polled by Thomson Reuters expected profit of 49 cents per share on sales of $1.32 billion.
Thomas Weisel said it was raising revenue estimates for the company through 2011 based on the strength of the HIV drugs.
"These results should ease investor concern regarding the growth prospects for the HIV franchise and enable the stock to recover," analyst M. Ian Somaiya said in a note. But he added that a strong fourth quarter may be needed "for the masses to come back to the stock."
Gilead shares rose to $43.20 in premarket trading, up from $41.39 at Thursday's close. They have fallen from $57.10 on Aug. 12.
Several other analysts also praised Gilead's performance. PiperJaffray's Thomas Wei said in a note the company "is one of our top picks based on upside from HIV sales."
Goldman Sachs increased its 2008 earnings forecast to $2 per share from $1.96.
"We continue to regard Gilead as a top growth company," said the note from analyst Meg Malloy.
http://www.forbes.com/feeds/ap/2008/10/17/ap5569003.html
October 17, 2008 12:20 PM EDT
Baird reiterates an 'Outperform' rating on Gilead Sciences (Nasdaq: GILD). Price target lowered from $57 to $54.
Baird analyst says, "GILD delivered from top to bottom in its Q3 report, which against the current backdrop, should deliver a positive catalyst. The EPS beat story returned, the HIV growth story proved alive and well, and sources of recent commotion/concern were addressed favorably. Our recent thesis on GILD is fully intact, we expect to see shares rally, and we believe GILD's high-quality/low-risk growth will return to favor in these markets."
http://www.streetinsider.com/Analys...nces+(GILD),+Recommends+Purchase/4075963.html
3:23 p.m. EDT Oct. 16, 2008
Gilead Sciences Inc. (NASDAQ: GILD) has just issued its third quarter earnings at $0.52 net EPS and $0.55 non-GAAP EPS and $1.37 billion in revenues. First Call had estimates at $0.49 non-GAAP EPS and $1.32 billion in revenues. But more important than earnings were some key metrics which might be accounting for some issues.
This was a record quarter for the biotech giant with a 39% product sales gain. Antviral sales grew 39% to $1.23 billion from sales of AIDS drugs Atripla growing 77% to $427.6 million, Truvada growing 34% to $549.1 million, and Viread sales grew almost 5% to $156 million. Hepsera for chronic hepatitis grew 15% to $91.2 million. AmBisome for severe fungal infections grew 6% to $72.9 million.
Its royalty business revenues fell 66% to $96.9 million from lower Tamiflu sales and royalties by Hoffman La-Roche. There is an interesting note here on currencies, and one which might take some thunder out of the numbers. Currencies gave a favorable result of $58.8 million to revenues and $36.7 million of the earnings when you compare it to the Q3-2007 levels.
Gilead also plans to spend $750 million for share buybacks on an accelerated basis out of the $3 billion plan announced last year.
We did not get formal guidance from the company. It appears that shares aren't rallying as much as you might have guessed because of those currency numbers and perhaps on some drops in royalties.
http://www.marketwatch.com/news/sto...www.247wallst.com/2008/10/gilead-boosted.html
