Gilead Sciences: How Big a Beat?

UBS analyst Matthew Roden and team are feeling pretty bullish on Gilead Sciences (GILD) heading into earnings on July 23:

Special to The Chronicle

In the large caps, estimates look beatable across the board, none more than GILD, where we are now 26% ahead of consensus (we raise our PT to $115)…Based on strong Rx trends for Gilead’s Sovaldi, we increase our 2Q sales est. by $1.3bn to $3.25bn (that's not a misprint), $650m above consensus. Also not fully appreciated is the 3Q settlement of the 2014 convert in cash, amounting to a 39m share repo…

Gilead’s not the only biotech benefiting from Roden’s largess. He expects a beat from Biogen Idec (BIIB) and raised his target to $130. He predicts good things from Amgen (AMGN), as well.

Shares of Gilead Sciences have dropped 0.9% to $86.41 at 10:01 a.m. today, while Biogen Idec has fallen 1.4% to $321.25 and Amgen has ticked down 0.1% to $120.06.