Big biotech Gilead Sciences (GILD) soundly beat analysts’ Q3 expectations and raised its guidance yet again Tuesday, though the stock slipped about 1% in after-hours trading. Gilead’s earnings, excluding one-time items, jumped 75% over the year-earlier quarter to $3.22 a share, beating analysts’ consensus by 35 cents, according to Thomson Reuters. Revenue climbed 37% to $8.3 billion, topping Wall Street’s average estimate by nearly $500 million.
The FDA said Thursday that it’s requiring that a warning of liver damage be put on the labels of AbbVie’s (ABBV) hepatitis C treatments Viekira Pak and Technivie, sending AbbVie shares plunging to an 18-month low and those of Gilead Sciences (GILD) up sharply. “Our review of adverse events reported to the FDA Adverse Event Reporting System (FAERS) database and to the manufacturer of these medicines, AbbVie, identified cases of hepatic
Big biotech Gilead Sciences (GILD) got a price-target increase Tuesday as big pharma Merck (MRK) released new data on its hepatitis C regimen that could be a rival to Gilead’s blockbuster franchise. Oppenheimer analyst Wendy Lam lifted her price target on Gilead to 124 from 120, writing that after the stock’s considerable sell-off — it’s down 17% from its June 24 high — investors are due to revisit Gilead’s strong fundamentals. She acknowledged