24/7 Wall St.
09-17-2008, 10:10 AM
24/7 Wall St. Daily News
Gilead Sciences Inc. (NASDAQ: GILD) is gapping down this morning in early trading. Goldman Sachs maintained its BUY rating on the stock but took down its price target to $58.00 from $59.00. This report is after a negative complete response letter from FDA regarding aztreonam lysine for cystic fibrosis. Based upon the response, Goldman Sachs reduced the sales targets for 2008 by $20 million and 2009 by $110 million for the drug despite Gilead's note that it continues to work with the FDA on the issue.
The biotech giant is down roughly 4% at $47.70 on more than 36,000 shares. Its 52-week trading range is $37.17 to $57.63. While this is well above the 52-week lows, it is also the largest pullback from highs that we have seen over the last year.
Jon C. Ogg
September 17, 2008
http://feeds.feedburner.com/~f/typepad/RyNm?i=gsbgL</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=gsbgL) http://feeds.feedburner.com/~f/typepad/RyNm?i=apkyL</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=apkyL) http://feeds.feedburner.com/~f/typepad/RyNm?i=kJCVl</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=kJCVl)
complete story here... (http://www.247wallst.com/2008/09/day-trader-al-4.html)
Gilead Sciences Inc. (NASDAQ: GILD) is gapping down this morning in early trading. Goldman Sachs maintained its BUY rating on the stock but took down its price target to $58.00 from $59.00. This report is after a negative complete response letter from FDA regarding aztreonam lysine for cystic fibrosis. Based upon the response, Goldman Sachs reduced the sales targets for 2008 by $20 million and 2009 by $110 million for the drug despite Gilead's note that it continues to work with the FDA on the issue.
The biotech giant is down roughly 4% at $47.70 on more than 36,000 shares. Its 52-week trading range is $37.17 to $57.63. While this is well above the 52-week lows, it is also the largest pullback from highs that we have seen over the last year.
Jon C. Ogg
September 17, 2008
http://feeds.feedburner.com/~f/typepad/RyNm?i=gsbgL</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=gsbgL) http://feeds.feedburner.com/~f/typepad/RyNm?i=apkyL</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=apkyL) http://feeds.feedburner.com/~f/typepad/RyNm?i=kJCVl</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=kJCVl)
complete story here... (http://www.247wallst.com/2008/09/day-trader-al-4.html)