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.