Gilead Sciences (GILD): Jefferies Positive On ASK1 PhII
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Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Gilead Sciences (NASDAQ: GILD) while attending AASLD, where detailed data from the positive ph.II study of ASK1 inhibitor '4997 were presented. While the small study and still evolving NASH diagnosis/treatment paradigm limit full assessment of ‘4997’s opportunity, overall the detailed data favorably answered several remaining outstanding questions and support the view--based on data analysis and prior KOL feedback--that ‘4997, like much of GILD’s pipeline, is underappreciated.
No change to the price target of $91.
Shares of Gilead Sciences closed at $76.75 yesterday.
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