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Piper Jaffray: Recent Weakness In Gilead Sciences Looks Like Opportunity


In a research report sent to investors today, Piper Jaffray analyst Joshua Schimmer reiterated an Overweight rating on Gilead Sciences (NASDAQ:GILD) with a price target of $116, which implies an upside of 19% from current levels.

Schimmer observed, “GILD shares have sunk following a 4Q ec which left many feeling uncertain about the company’s outlook. But following our HCV specialist call last week and a followup discussion with the company, we feel better that GILD has the opportunity and motivation to deliver both upside to 2015 estimates and also deliver LT growth. GILD’s business model has tended toward one of establishing expertise in a therapeutic area and then acquiring the best assets in the field, and we believe this trend will continue. With multiple levers to exceed investor expectations, GILD moves up to become one of our top large-cap picks, trading back at a 2015 P/E of just 10x.”

Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines for the treatment of life threatening diseases in North America, South America, Europe, and the Asia-Pacific.