Needham & Company Reiterates a 'Buy' on Gilead Sciences (GILD) on Positive Interim Data from GS7977 Trials

Needham & Company reiterates a 'Buy' on Gilead Sciences (NASDAQ: GILD) price target of $54.00.

Analyst, Alan Carr, said, "Gilead and BMS (NYSE: BMY)(NotRated) announced reassuring data from several GS7977 trials this morning, including ELECTRON, QUANTUM, and Study 040. Data from the former two trials suggest GS7977/RBV has some viability as an option for tx-naïve GT1 patients (~76% SVR4). Study 040 data (24 wks GS7977/DAC) suggest that a highly effective all-oral combo regimen is tenable with GS7977. (100% SVR4 GT1; 93% GT2/3). We reiterate our rating and continue to believe Gilead has a solid position in the HCV space going forward."

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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