Deutsche Bank Maintains Buy on Gilead Sciences (GILD) after Strong Hepatitis C Combo Data

Deutsche Bank reiterated its Buy rating and $75 price target on Gilead Sciences (NASDAQ: GILD) following positive data from the '7977/'5885 combo in treatment-naïve genotype 1 Hepatitis C patients, showing 100 percent (n=25/25) remained HCV RNA undetectable four weeks after completing therapy (SVR4).

Commenting on Gilead's combo versus Abbott Laboratories' (NYSE: ABT) Aviator, they note Gilead's two drugs are better than Abbott's three. They believe Gilead's regimen continues to look more commercially viable.

"At worst, GILD will likely need two HCV drugs and Riba. At best, ABT will need 3 HCV drugs, Riba, and low dose booster Norvir," the said. "We continue to believe that doctors will go for most simple and efficacious regimen."

The firm sees a fair-value for GILD of $81 & $86 if they assume greater HIV share & 80% HCV success; $90 & $95 if they assume greater HIV share & 100% HCV success.

For an analyst ratings summary and ratings history on Gilead Sciences click here. For more ratings news on Gilead Sciences click here.

Shares of Gilead Sciences closed at $65.01 yesterday.

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