Drug Maker's Tight Focus Gives It An Edge
Fool me once, shame on you. Fool me twice, shame on me. Analysts seem to be saying that about Gilead Sciences. For two straight quarters, the company has run roughshod over consensus Wall Street views. Was it a case of management understating its expectations? Or did Gilead's (NasdaqNM:GILD - News) results surprise management, too? No officer of the Foster City, Calif.-based firm would comment. As for analysts: they're apparently tired of watching Gilead stomp expectations and have responded by boosting future estimates above management's guidance. Gilead specializes in drugs to treat HIV, hepatitis and flu. With just more than $1 billion in annual revenue, it's a lot smaller than rivals GlaxoSmithKline, Bristol-Myers Squibb, Pfizer and Merck. Still, Gilead has little problem carving out its own lucrative piece of the pie.