Gilead (GILD) Stock Rising on European Regulatory Approval
NEW YORK (TheStreet) -- Gilead Sciences (GILD) - Get Report stock is up 1.21% to $86.50 in late afternoon trade after the European Commission approved the company's oral hepatitis-C medication, Epclusa.
The drug was previously approved by the FDA on June 28. With the European Commission's approval, Gilead can now market the medication in all 28 countries in the EU.
Analysts at Maxim said that the approval further cements Gilead's status as the leader in the hepatitis-C market.
They expect the treatment to begin "cannibalizing" revenues from the company's other hepatitis-C medications Harvoni and Solvaldi.
"We still believe in Gilead and its long-term potential," the firm said in a note cited by Barron's. "However, in the short term, we see a period of consolidation in the stock."
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
Recently, 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.