Gilead Sciences (GILD) Mark New 52-Week High on IMS Data

Shares of Gilead Sciences (Nasdaq: GILD) are seeing upside today due to positive data from IMS about the drugmakers HIV treatments Truvada and Atripla.

The IMS, a global source of pharmaceutical market intelligence, today released February's prescription sales results, showing better-than-expected sales of Gilead's HIV treatments. IMS reported February Truvada sales of $81.8 million, implying $241.8 million in revenues for the first quarter, and Atripla sales of $105.2 million, implying $305.2 million in revenues for the first quarter.

Responding to the data, Piper Jaffray issued a research note earlier reiterating Gilead as one of its top pharmaceutical picks due to the potential upside from strong sales of its HIV drugs. The firm currently has a $58 price target on shares of Gilead.

Gilead shares have risen as much as 3.9%, or $1.93, to a new all-time high at $51.54 today.

Gilead Sciences, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for the treatment of life-threatening infectious diseases. [BCS]

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