S&P Maintains BUY Rating on Gilead Sciences

October 07 00:00 2011

NEW YORK, October 7 (RainbowNewsLine.com): Analyst Steven Silver of S&P Equity Research maintains his BUY recommendation on the shares of GILEAD SCIENCES (NASDAQ: GILD).

Analyst Steven Silver, in a research note published yesterday mentions that the company has entered into a global licensing agreement for acquiring the rights of Boehringer Ingelheim’s novel non-catalytic site integrase inhibitors, which is a new class of potential antivirals for treating HIV. The terms of deal are still confidential and in early study phase I lead compound BI-224436 has been evaluated, the analyst says. At early stage, the analyst is encouraged by GILD enforcing its HIV pipeline, however, he is concerned about the company’s key patents associated with HIV drugs approach patent expiration by the end of this decade.  The analyst believes that GILD will continue to look for long-term investments to continue its growth while backing EPS with aggressive share repurchases.