Gilead Sciences, Inc. (NASDAQ:GILD) will release second quarter earnings on Tuesday, July 28. The biopharmaceutical giant is most known for its hepatitis C drugs, Harvoni and Sovaldi. Several analysts weighed in on Gilead after the company posted a strong earnings report in May. Here are the top 5 analysts to follow ahead of the upcoming earnings release:
1. Alan Carr of Needham most recently weighed in on Gilead on May 1, reiterating a Buy rating on the stock with an unchanged priced target of $120. Carr made the rating in light of the company’s first quarter earnings report in which the company posted better-than-expected results. The analyst attributed the strong earnings to Harvoni and to an adjustment made in Branded Prescription Fee. At the time, the analyst correctly predicted that Harvoni would be approved in Japan later in the year. He also commented, “Top-line results from Phase 3 ASTRAL program testing 12-wk sof/ GS-5816 [a pipeline drug aimed at chronic HCV infection] are expected in 3Q15, followed by NDA submission in 4Q15.” The pipeline drug is still in Phase 3 testing.
Alan Carr has rated Gilead 15 times since February 2012, earning a 100% success rate recommending the stock and a +55.4% average return per GILD rating when measured over a one-year horizon and no benchmark.