Goldman Sachs Positive On Gilead Sciences (GILD) Ahead of Quad AdCom

Goldman Sachs reiterated their Conviction Buy List rating and $61 price target on Gilead Sciences (NASDAQ: GILD) saying they expect a positive FDA panel vote on the company's key HIV pipeline drug.

The firm notes that on May 11 the FDA antiviral Advisory Committee will discuss
Gilead's key HIV pipeline drug, Quad, which has a PDUFA date of August 27. They expect panel documents on May 9.

Goldman expects the FDA's Advisory Committee to vote for approval of the Quad based on the strong data in two Phase III trials. This, they believe, will lift this overhang from the stock.

They see Quad as a $2bn+ drug, which could extend the tail of the company
s core HIV franchise post the patent cliff.

All this said, Goldman said the key driver of the stock remains the HepC pipeline drug '7977, which they are positive on.

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 $51.39 yesterday.

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