Want to know what's happening next in healthcare?

MedCityNews is the leading online news source for the business of innovation in healthcare.

“Follow MedCity News if you want to know who is doing what in healthcare innovation - and whether it's working or not.”

Chris Seper, CEO & Founder, MedCityNews.com

Sign up for our daily newsletter

J.P. Morgan says Gilead’s HIV pill could be market leader in 3-5 years

3:04 pm by | 0 Comments

(Reuters) - J.P. Morgan Securities raised its price target on Gilead Sciences Inc to $75 from $70, saying the company's HIV pill could emerge as a "market leader" in three to five years, sending the drugmaker's shares to a life-high.

U.S. health regulators approved the four-drug combination pill, Stribild, on August 27.

Physicians said there were no major concerns with Stribild or with its cost, the brokerage said after a survey of 52 HIV specialists.

Analyst Geoff Meacham, who reiterated his "overweight" rating on the stock, expects Stribild sales of about $2.9 billion in 2015, ahead of Wall Street consensus of $1.5 billion.


Gilead shares, which have risen 8 percent since the approval of the HIV pill, were up 6 percent at $65.68 on the Nasdaq on Monday. More than 16 million shares changed hands by 1454 ET, about 2.5 times their 10-day moving average volume.

(Reporting by Adithya Venkatesan in Bangalore; Editing by Don Sebastian)

Copyright 2014 MedCity News. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Sort: Newest | Oldest

Hear the latest news first

Get our daily newsletter or follow us.