Gilead Sciences: Analyst Cory Kasimov Provides Update From Inside The J.P. Morgan Healthcare Conference

J.P. Morgan healthcare analyst Cory Kasimov came out today with an update on Gilead Sciences (NASDAQ:GILD), as the company’s breakout session is wrapping up at the 2015 J.P. Morgan Healthcare Conference. The analyst rates the stock an Overweight with a $117 price target.

Kasimov noted, “Overall, the tone of COO John Milligan’s presentation to a standing-room-only crowd was constructive (though largely review), as he underscored the impressive progress the company made in 2014 and highlighted key pipeline and commercial development to expect in 2015. Not surprisingly, the focus in the breakout session was on HCV pricing dynamics, where GILD reiterated that negotiations are ongoing, but it is happy with the prices and access it has been able to secure (and can’t comment/too early to tell on the ultimate impact on gross-to-net).”

The analyst highlighted the upcoming catalysts saying, “We expect HCV Rx trends, quarterly reports, and payer updates will all continue to be significant drivers in 2015. Also in the HCV world, we expect approval of Sovaldi and Harvoni in Japan in 1H15, and we anticipate top-line Phase 3 data from 5816/sof in 2H15. We expect regulatory filings to expand Harvoni’s label into GT3 and also look for the addition of the 12wk+RBV regimen for cirrhotic patients in 2H. In HBV, we anticipate top-line Phase 1 data of GS-4774 in 1H15. In HIV, we expect filings for F/TAF in 2Q and anticipate approval of E/C/F/TAF in the US in 4Q15. Top-line data from simtuzumab in NASH and PFC is anticipated in 4Q15.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a total average return of 16.1% and a 57.6% success rate. Kasimov has a 3.4% average return when recommending GILD, and is ranked #442 out of 3420 analysts.

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