Gilead (GILD) Stock Climbs as Leerink Raises Estimates
NEW YORK (TheStreet) -- Gilead Sciences (GILD) - Get Report stock is up 1.64% to $85.26 today as Leerink releases a bullish note on the stock foreseeing "one of the strongest quarters for [its] core franchises in some time."
Analysts at Leerink raised their second quarter estimates for the stock by 4% to $8.2 billion, up from previous estimates of $7.9 billion.
"Q2 is typically the strongest quarter of the year operationally for biopharmaceutical companies," the firm said in a note. This is due to sequential growth over the first quarter, followed by large associated increases in guidance.
Leerink added that investors often expect "quiet summer[s]" for biotech stocks, but that the expectation can frequently be "confounded" by solid returns in July and August.
The firm's new estimates are driven mainly by the continued success of Gilead's HIV franchise and also on better-than-expected sales for hepatitis C products.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, attractive valuation levels and expanding profit margins. TheStreet Ratings feels its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: GILD
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.