Maxim Maintains Buy On Gilead Sciences Following Deal With Anthem On Hepatitis C Drug
In a research report released this morning, Maxim Group analyst Jason Kolbert maintained a Buy rating on Gilead Sciences (NASDAQ:GILD) with a price target of $127, following the news that the company was chosen by Anthem Inc. (NYSE:ANTM) to provide its hepatitis C drug as the primary option for patients.
Kolbert observed, “What is ironic is that Anthem is Express Scripts largest customer but sets their own formulary.” He continued, “As we have previously stated, the attributes of Harvoni will win the day. These include the single tablet regimen (STR) as well as the fact that Viekira Pak requires co-administration with ribavirin in “most HCV genotype 1 patients” and potentially a much longer time duration (up to 24 weeks) vs. Harvoni (as short as 8 weeks). Also mentioned were the large number of drug-drug interactions for Viekira vs. Harvoni (none).”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 4.9% and a 43.8% success rate. Kolbert has a 17.8% average return when recommending GILD, and is ranked #644 out of 3434 analysts.