Gilead (GILD) Stock Higher, Citigroup: Hepatitis C Drug Sales Improving - TheStreet

NEW YORK (TheStreet) -- Shares of Gilead Sciences (GILD) - Get Report  were up in mid-morning trading on Friday as Citigroup analysts said they see the company's Hepatitis C (HCV) drug sales getting better. 

Scripts for the Foster City, CA-based pharmaceutical company's HCV drug increased 14% since last week, according to data released today by IMS Health. Citigroup noted the surge is likely due to the prior week including a holiday. 

This could result in fiscal 2016 third-quarter HCV sales between $1.78 billion and $1.85 billion vs. consensus estimates of $2.1 billion, the firm said. 

The HCV franchise's uptick these past five to six weeks is largely due to new starts tracking "slightly better" than at the beginning of the quarter, Citigroup noted. 

Sales in veterans affairs could boost HCV numbers, but the firm said it expects veterans affairs sales to remain at $400 million for the third quarter, the same amount sold in the previous quarter. 

Separately, 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. TheStreet Ratings has this to say about the recommendation:

TheStreet Ratings team rates Gilead Sciences as a Buy with a ratings score of B. This is driven by several positive factors, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its notable return on equity, attractive valuation levels and expanding profit margins. The team 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:


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