Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Gilead Sciences delivered a mixed performance in their latest financial results, reflecting both strengths and challenges across their portfolio.</li><li>The company reported overall product sales of $6.6 billion for the first quarter, a 1% decline year-over-year, primarily attributable to a significant decrease in sales of Veklury, a COVID-19 treatment, which was down 45%.</li><li>The core business, however, excluding Veklury, demonstrated growth with a 4% increase, driven largely by their HIV segment and liver disease treatments.</li></ul>

Gilead Sciences delivered a mixed performance in their latest financial results, reflecting both strengths and challenges across their portfolio.The company reported overall product sales of $6.6 billion for the first quarter, a 1% decline year-over-year, primarily attributable to a significant decrease in sales of Veklury, a COVID-19 treatment, which was down 45%.The core business, however, excluding Veklury, demonstrated growth with a 4% increase, driven largely by their HIV segment and liver disease treatments.

Gilead Sciences: Cell Therapy Adoption & Expansion to Strengthen Its Competitive Position n Its Domain!

<ul><li>Gilead Sciences Inc. delivered a strong performance in the fourth quarter and full year 2024, with significant revenue growth driven by its core business areas despite facing some industry-specific and macroeconomic challenges.</li><li>Positives from the earnings results include a robust increase in product sales, excluding Veklury (remdesivir), demonstrating an 8% year-over-year growth, reaching $26.8 billion.</li><li>The primary driver was the HIV portfolio, which exceeded expectations with an 8% growth to $19.6 billion for the year, led by the leading HIV treatment, Biktarvy, which saw a 13% increase in sales.</li></ul>

Gilead Sciences Inc. delivered a strong performance in the fourth quarter and full year 2024, with significant revenue growth driven by its core business areas despite facing some industry-specific and macroeconomic challenges.Positives from the earnings results include a robust increase in product sales, excluding Veklury (remdesivir), demonstrating an 8% year-over-year growth, reaching $26.8 billion.The primary driver was the HIV portfolio, which exceeded expectations with an 8% growth to $19.6 billion for the year, led by the leading HIV treatment, Biktarvy, which saw a 13% increase in sales.

Gilead Sciences: Pipeline Progress & Regulatory Milestones As A Pivotal Growth Lever!

<ul><li>Gilead Sciences, Inc. reported a strong financial performance for the third quarter of 2024, showcasing robust growth across its main therapeutic areas, including HIV, oncology, and liver disease.</li><li>This growth has allowed Gilead to increase its full-year guidance for key financial metrics such as revenue, operating income, and earnings per share, underscoring its effective commercial and operational execution.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Gilead Sciences, Inc. reported a strong financial performance for the third quarter of 2024, showcasing robust growth across its main therapeutic areas, including HIV, oncology, and liver disease.This growth has allowed Gilead to increase its full-year guidance for key financial metrics such as revenue, operating income, and earnings per share, underscoring its effective commercial and operational execution.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

How Gilead Sciences' HIV & Other Innovations Are Set to Capture Untapped Markets & Drive Massive Growth! - Major Drivers

<ul><li>Gilead Sciences Inc. showcased a solid performance for the second quarter of 2024, marked by robust commercial execution and growth across key therapeutic areas such as HIV, liver diseases, and oncology.</li><li>Notably, Biktarvy, an HIV treatment, observed an 8% year-over-year growth, while Trodelvy in oncology saw a 23% increase, and cell therapy revenues increased by 11%.</li><li>Additionally, the company reported disciplined management of operating expenses which significantly contributed to bottom-line growth.</li></ul>

Gilead Sciences Inc. showcased a solid performance for the second quarter of 2024, marked by robust commercial execution and growth across key therapeutic areas such as HIV, liver diseases, and oncology.Notably, Biktarvy, an HIV treatment, observed an 8% year-over-year growth, while Trodelvy in oncology saw a 23% increase, and cell therapy revenues increased by 11%.Additionally, the company reported disciplined management of operating expenses which significantly contributed to bottom-line growth.

Gilead Sciences: Innovations in Oncology & Cellular Therapy Along With Anti-Viral Focus! - Major Drivers

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec (2359 HK)</a> aims to raise around US$650m via its H-share placement.</li>
<li>The stock has been on a roll this year and recently announced strong earnings as well. Although it’s now trading at its 52-week highs.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



WuXi AppTec (2359 HK) aims to raise around US$650m via its H-share placement.
The stock has been on a roll this year and recently announced strong earnings as well. Although it’s now trading at its 52-week highs.
In this note, we will talk about the placement and run the deal through our ECM framework.


Wuxi AppTec Placement - Momentum Is Very Strong, Though It Is a Bit Opportunistic

United States

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops, and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases.  The Company's primary areas of focus include HIV/AIDS, liver disease and serious cardiovascular and respiratory conditions.

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Gilead Sciences (GILD US)

Gilead Sciences: Cell Therapy Adoption & Expansion to Strengthen Its Competitive Position n Its Domain!

Gilead Sciences delivered a mixed performance in their latest financial results, reflecting both strengths and challenges across their...

Baptista Research

Gilead Sciences: Pipeline Progress & Regulatory Milestones As A Pivotal Growth Lever!

Gilead Sciences Inc. delivered a strong performance in the fourth quarter and full year 2024, with significant revenue growth driven by its core...

Baptista Research

How Gilead Sciences' HIV & Other Innovations Are Set to Capture Untapped Markets & Drive Massive Growth! - Major Drivers

Gilead Sciences, Inc. reported a strong financial performance for the third quarter of 2024, showcasing robust growth across its main therapeutic...

Baptista Research

Gilead Sciences: Innovations in Oncology & Cellular Therapy Along With Anti-Viral Focus! - Major Drivers

Gilead Sciences Inc. showcased a solid performance for the second quarter of 2024, marked by robust commercial execution and growth across key...

Baptista Research

Wuxi AppTec Placement - Momentum Is Very Strong, Though It Is a Bit Opportunistic

WuXi AppTec (2359 HK) aims to raise around US$650m via its H-share placement. In this note, we run the deal through our ECM framework and talk...

Sumeet Singh

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