Analysts Raises Stribild Sales Review, Gilead Sciences, Inc.(NASDAQ:GILD) Rises

Gilead Sciences, Inc.(NASDAQ:GILD) shares rose on Monday as analyst increases price target and sales estimate for a HIV drug, Stribild.

Gilead Sciences, Inc is a biopharmaceutical company that explores, manufactures and commercializes medicines.

Geoff Meacham said he predicts yearly sales of Stribild to reach about $2.19 billion in 2015. Meacham also said that his company has executed a survey among HIV specialists. He increased his estimates for Stribild sales by $350 million to $400 million. The drug will take more profits from an older Gilead product, Complera.

Meacham said that the survey suggests Stribild has the potential of emerging as the market share leader 3-5 years from now whereas Atripla showed more resilience than expected.

Meacham had maintained a rating of ‘Overweight’ in Gilead stocks and raised his price target to $75 per stock from the previous $70.

Will GILD Continue To Move Higher? Find Out Here

The firm makes a number of HIV treatments including Truvada, Atripla and Complera. The latest is Stribild which is a combination of two older therapies and two newer drugs. The product had won approval in August.

Meacham predicts the firm to report $10.7 billion sales of HIV medicines in the year 2015. He also said that Wall Street predicts $9.4 billion on an average. Meacham raised his estimates on sales of Atripla by $300 million to $350 million, even though he sees poorer sales than other analysts.  Analysts at Zack have reiterated a neutral rating on shares of Gilead Sciences in a research memo to investors. They now have $61 price target.

Gilead had acquired Pharmasset, hepatitis C drug manufacturer in January for @11.1 billion.

Gilead shares increased $3.78 to close $65.80. Since April 19, the stock is up 41%, when the firm reported upbeat data for Pharmasset’s most sophisticated hepatitis C drug.

Physicians have said that there are no serious concerns with Stribild or with its charges.