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NEW YORK - Gilead Sciences Inc. is expected to report another quarter of revenue and profit growth Tuesday, with key HIV treatments Atripla and Truvada again leading the way.
The biotechnology company is scheduled to release second-quarter financial results after the market closes and Wall Street expects another strong round of results. On average, analysts polled by Thomson Reuters expect profit of 61 cents per share on revenue of $1.6 billion.
During the same period a year ago, the company earned 46 cents per share on revenue of $1.28 billion.
The key revenue driver is the once-daily, three-in-one HIV treatment Atripla. It is composed of Gilead's HIV treatments Viread and Emtriva, along with Bristol-Myers Squibb Co.'s Sustiva. Another key HIV treatment is Truvada, which is a combination of Viread and Emtriva.
Lazard Capital Markets analyst Joel Sendek, expects Gilead to top Wall Streets expectations, with potentially higher-than-expected Atripla sales. In a note to investors, he said sales from the drug could beat his estimate of $387 million, while Truvada sales could top his outlook for $291 million.
He reaffirmed a "Buy" rating with a $56 price target.
Meanwhile, Leerink Swann Research analyst Dr. Joshua Schimmer maintains a "Outperform" rating with a $54 price target.
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Data is a real-time snapshot *Data is delayed at least 15 minutes