Gilead estimates raised by Merrill Lynch

Gilead Sciences Inc. earnings estimates were raised by Merrill Lynch analyst Eric Ende, but the rating remains at neutral following second-quarter earnings. For 2005, Merrill raised its GAAP earnings estimate to $1.35 per share from $1.34. Merrill said that while HIV franchise sales could surpass expectations, without much of a pipeline the company's growth rate is expected to decelerate to a mid double-digit pace during the next couple of years. Gilead shares Wednesday were unchanged on the day to close at $46.60 on volume of 9,131,765 shares versus the three-month running average of 3,979,570 shares.

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