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Strong Earnings from GILD Help the Biotech HOLDRs ETF Today
By Market News Video Staff, Wednesday, October 20, 11:28 AM ET
Shares of Gilead Sciences (NASDAQ:GILD) are pushing the Biotech HOLDRs ETF (AMEX:BBH) higher this morning following strong earnings. The biotech firm posted third quarter earnings of 90 cents per share, ex-items, topping Wall Street's estimates of 87 cents per share and has shares of GILD higher by 5.7% this morning.
Also helping the stock today are analyst reports out of both Barclays (NYSE:BCS) and Citigroup (NYSE:C). Barclays sees shares climbing to $46 per share over the next twelve months while maintaining their equal weight rating. And Citigroup upped its price target to $41 per share while maintaining its hold rating.
With 24% of the Biotech HOLDRs ETF in Gilead Sciences, BBH is higher by 1.8% today and approaching its 52 week high of $107.59 again. For the full portfolio of stocks held by this ETF, see the BBH Holdings Page on ETF Channel.
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