Company Update (NASDAQ:GILD): Infection worries prompt EU review of Gilead leukaemia drug

[Reuters] – European regulators have started a review into the safety of Gilead Sciences’ leukaemia drug Zydelig due to concerns over serious adverse events, including deaths. The review was prompted by an increased rate of harmful events, mostly due to infections, seen in three clinical trials that tested the drug in combination with other cancer medicines, the European Medicines Agency (EMA) said on Friday. The EMA said it would review data from the studies to see if the findings had any consequences for Zydelig’s approved use. Read more on this. Gilead Sciences Inc. (GILD) , valued at $127.18B, opened this morning at $89.97. Looking at today’s market, GILD one day range is $88.64 to $89.98 with a trailing 52-week range being $81.89 to $123.37. GILD shares are currently priced at 7.25x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -0.83x forward p/e ratio. The company pays shareholders $1.72 per share annually in dividends, yielding 1.92%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $3.09 per share, which would be $0.15 better than the year-ago quarter and a $0.19 sequential increase. The full-year EPS estimate is $12.23, which would be a $0.38 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.99 Billion. If realized, that would be a 5.27% increase over the year-ago quarter. More recently, Citigroup Initiated GILD at Buy (Feb 25, 2016). Previously, Standpoint Research Initiated GILD at to Buy. The average price target for GILD shares by the analysts covering it is $115.85, which is 28.77% above where the stock opened. See more in (NASDAQ:GILD) Similar Articles: Stock Update (NASDAQ:GILD): U.S. Food and Drug Administration Approves Gilead’s Second TAF-Based Single Tablet Regimen Odefsey® (Emtricitabine, Rilpivirine, Tenofovir Alafenamide) for the Treatment of HIV-1 Infection Market Update: Gilead Sciences Inc (NASDAQ:GILD) – Gilead Submits New Drug Application to U.S. Food and Drug Administration for Tenofovir Alafenamide (TAF) for the Treatment of Chronic Hepatitis B Stock Update: Gilead Sciences Inc (NASDAQ:GILD) – Gilead combo drug fights all genotypes of hep C infection: data