Boston, MA 08/13/2014 (wallstreetpr) – In amidst of most of the companies that are struggling to survive in the market, Gilead Sciences, Inc. (NASDAQ:GILD) looks rock-solid for rest of the year. It has done tremendously well in past few months, and investors are hoping it to continue the good work in coming months as well.
How Things Became Favorable for GILD:
Nothing has come over night to Gilead Sciences, Inc. (NASDAQ:GILD); the company had to wait for a long time to achieve everything that it has today. Three years back when stocks of GILD were trading at $20 per share, the company decided to buy Pharmasset for as much as $11 billion. It is a huge amount now, and it was a huge amount back in 2011, but GILD took the risk that was not considered as one of the best steps by company at that time. GILD wanted to takeover HCV pipeline of Pharmasset so desperately that it agreed to take a huge risk without any second thought. Pharmasset focused on HIV and AIDS treatments, but investors didn’t think it was a wise step taken by GILD.
Government approved the launch of Sovaldi just after the transaction was executed. With over 3-4 million people in America and 150 million worldwide affected by AIDS and HIV, the sales of Gilead Sciences, Inc. (NASDAQ:GILD) took a flight, and it never looked back after that. The 12 months revenue in December 2013 was recorded as $11.2 billion while it was recorded as $17.44 billion in June 2014. The growth rate of GILD in terms of revenue realization has been very good for last some time.
It carries a ‘buy’ rating from Zacks Consensus Estimate. On the basis of recent performance of the company, one can easily say that there is no looking back for Gilead Sciences, Inc. (NASDAQ:GILD) in the near future. It has outperformed the market on previous two occasions i.e. Q1 2014 and Q2 2014 and all set to repeat its superb performance in the Q3 2014 as well.
