Gilead (GILD) Harvoni/Sovaldi Label Changes Are Not Meaningful, Baird Says

Baird analyst Brian Skorney weighed in on Gilead Sciences (NASDAQ: GILD) following Harvoni/Sovaldi labeling changes. The firm reiterated an Outperform rating and price target of $126, saying the changes are not meaningful.

Skorney commented, "No change to view following Harvoni/Sovaldi labeling changes. Although a major safety event emerging for Harvoni/Sovaldi would certainly qualify as a sector-impacting black swan event, the labeling updates to these drugs, announced on Friday, following the emergence of a safety signal in combination with the antiarrythmic drug amiodarone is not one. We think this will have a negligible commercial impact and would use any near-term stock weakness as a buying opportunity."

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 $102.29 yesterday.

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