Markets & Finance

First Albany Keeps Buy on Gilead Sciences

First Albany reiterated its buy rating on Gilead Sciences (GILD).

Analyst David Webber says he's reiterating his buy rating following the release of preliminary data on Gilead's Viread/Emtriva drug combination against GlaxoSmithKline's Combivir in a study of HIV patients. He notes Gilead reported, among other things, that a statistically significant greater number of patients achieved a pre-set goal for reduced levels of the HIV virus with Gilead drugs vs. Combivir.

Webber says the early study data suggest Gilead's newly approved Viread/Emtriva drug combination, Truvada, will compare favorably to Combivir in final study results and facilitate market share gain at the expense of Combivir. He keeps the $76 target.

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