Gilead Sciences, Inc. (NASDAQ:GILD) climbed to the second spot, from third during the prior week, as the stock inched down by around 5% between January 10 and January 16. The Street expects Gilead Sciences, Inc. (NASDAQ:GILD) to outperform this year and maintain its leadership position in the Hepatitis C market with its Sovaldi and Harvoni drugs. Last week, the company participated in the 34th Annual JP Morgan Healthcare Conference, where it presented some updates regarding its pipelines, though it has not provided its guidance for the current year. Following the conference, JPMorgan reiterated its ‘Overweight’ rating and $133 price target, while Bank of America upgraded the stock to ‘Neutral’ from ‘Underperform’, with a $107 price target.
In addition, last week Gilead Sciences, Inc. (NASDAQ:GILD) said that it had submitted a New Drug Application to the U.S. Food and Drug Administration for tenofovir alafenamide 25 mg. The product is an investigational, once-daily treatment designed for adults with chronic hepatitis B infection.
Gilead Sciences, Inc. (NASDAQ:GILD) is one of the favorite healthcare stocks among the funds we track and its dividend yield of 1.42% and strong fundamentals also make it the top biotech pick. A total of 90 funds from our database held shares of Gilead at the end of the third quarter of 2015, amassing 3.30% of the company’s outstanding stock.