$GILD BREAKOUT ON THE WAY IN GILEAD SCIENCES INCGilead traded well today on the news it will be investing $5.1 billion in EURONEXT:GLPG which will raise its stake from 12% to 22% with the a future target of 29.9% ownership on approval by the shareholders of Galapagos. The market seems happy with the move, even as biotech stocks have been under pressure lately. Decisions out of the White House haven't been helping, as the government continues to keep a close eye on drug prices.
Also on Monday Wells Fargo analysts upgraded Gilead Sciences to an outperform rating and slapped an $88 price target on the name. That implies 33% upside from Friday's closing price and would send Gilead stock more than 10% above its 52-week high.
AVERAGE ANALYSTS PRICE TARGET $88
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 15
SHORT INTEREST 1%
Company Description
Gilead Sciences , Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. Its primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases. It offers antiviral products under Harvoni, Genvoya, Epclusa, Truvada, Atripla, Descovy, Stribild, Viread, Odefsey, Complera/Eviplera, Sovaldi, and Vosevi brands.
