Gilead (GILD) Sell-Off Seen as Opportunity at Wells Fargo

Wells Fargo called today's sell-off in Gilead Sciences (NASDAQ: GILD) an opportunity. The decline follows news Express Scripts (NASDAQ: ESRX) selected AbbVie's (NYSE: ABBV) Viekira Pak as its exclusive treatment option for GT1 HCV.

Analyst Brian Abrahams said immediate impact is limited to 10% of the U.S. HCV population, perhaps less. His model already accounted for GT1 market share split between Gilead Sciences and AbbVie. Importantly, read-through to other PBMs is also likely limited, he said.

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 $108.45 yesterday.

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