Baird Comments Gilead Sciences (GILD) on GS-7977 Update

Baird commented on Gilead Sciences (NASDAQ: GILD) following positive initial GS-7977 updates from EASL conference.

"In the most closely watched event, the interferon-free GILD/BMY combination of ‘7977/daclatasvir is curing 100% of genotype-1 patients. This reinforces that ‘7977 is the best asset in the Hep C space and restores "world order" with GILD not ABT as the one to beat. The updates for ‘7977/ribavirin in GT-1 are interesting, but not what people are in the stock for. We expect GILD to react strongly and would buy to the mid-$50s.

The maintained their Outperform ratign and price target on $57.

For an analyst ratings summary and ratings history on Gilead Sciences click here. For more ratings news on Gilead Sciences click here.

Shares of Gilead Sciences closed at $46.61 yesterday.

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