GILD To Continue To Outpace Long-Term Street Estimates

Analyst Phil Nadeau of Caris & Company reiterates his "outperform" rating on Gilead Sciences (NASDAQ: GILD), while raising his estimates for the company.

According to Caris & Company, GILD reported robust Q4 results, with total revenues and non-GAP EPS exceeding the estimates and the consensus. Gilead Sciences has projected its product sales for 2010 at $7.6-$7.7 billion, ahead of prior estimates, and expects the “treatment guideline changes to bring a sizable number of diagnosed but untreated patients onto therapy.”

Caris & Company adds that “through a combination of HIV market growth, share gains, and price increases, GILD will continue to outpace long-term Street estimates, and our own projections for 15% topline and 19% bottom-line 2008-14 growth… Gilead’s fundamentals remain among the best in large-cap biotech. We expect the shares will outperform the market by 15-20% over the next 12 months.”

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Caris & Company has raised its EPS estimates for 2010 and 2011 from $3.30 to $3.50 and from $3.85 to $4.00, respectively.