Achillion Pharma (ACHN), Gilead (GILD) Decline; Biotech Pressured
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Generic Sovaldi For Poor Countries is 'Nothing New', Says RBC (GILD)
September 5, 2014 11:17 AM EDTRBC Capital maintained an Outperform rating on Gilead Sciences (NASDAQ: GILD) with a price target of $115. Analyst Michael J. Yee discussed today's weakness in the stock, linking it to reports of a cheaper version of Sovaldi offered in poor countries. In his view this is "nothing new."
"Based on our conversations with investors, we believe recent weakness this morning (stock was down as much as 8% intraday) was attributable to at least one media article and headline... More
