Piper Jaffray Looks Long at Gilead Sciences

Piper Jaffray has published a research report on Gilead Sciences GILD. In the report, Piper Jaffray wrote, "Our call with Gilead's CEO John Martin PhD and EVP of R&D Norbert Bischofberger PhD provided insights into the HIV franchise and HCV development strategy. We are incrementally more confident in the ability of the Quad HIV pill to displace Atripla and enable Gilead to grow following expiration of Atripla patents in 2021." Piper Jaffray rated Gilead Sciences an Overweight with a price target of $53.00. Gilead Sciences closed Wednesday at $38.15.