Gilead Sciences (NASDAQ: GILD) had its target price upped by Oppenheimer from $45.00 to $50.00 in a report released on Thursday. Oppenheimer currently has an outperform rating on the stock.

“We reviewed GILD’s oncology pipeline, focusing on lead candidates idelalisib (PI3K inhibitor) for NHL/CLL and CYT387 (JAK inhibitor) for myelofibrosis. Based on their MoAs and favorable ph.I/II datasets, we see a high probability of ph.III success for these compounds. Although both face significant competition, we believe little to no value is priced into shares for these compounds. We are now including very conservative base-case estimates for idelalisib/CYT387, with room for upside potential. Although ph.III readouts will not occur until 2014-2016, we believe value for these candidates and the overall oncology pipeline will begin to creep into shares toward year-end.,” Oppenheimer’s analyst wrote.

Gilead Sciences (NASDAQ: GILD) traded down 1.46% on Thursday, hitting $44.51. Gilead Sciences has a 52-week low of $22.665 and a 52-week high of $46.37. The stock’s 50-day moving average is currently $42.3. The company has a market cap of $67.762 billion and a price-to-earnings ratio of 27.54.

GILD has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a buy rating on shares of Gilead Sciences in a research note to investors on Tuesday, March 12th. Separately, analysts at Deutsche Bank reiterated a buy rating on shares of Gilead Sciences in a research note to investors on Monday, March 11th. They now have a $48.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a hold rating on shares of Gilead Sciences in a research note to investors on Thursday, March 7th. They now have a $40.00 price target on the stock.

Twenty-one equities research analysts have rated the stock with a buy rating, three have assigned an overweight rating, and six have issued a hold rating to the company’s stock. The stock has a consensus rating of overweight and an average price target of $48.45.

Gilead Sciences, Inc. (Gilead) is a research-based biopharmaceutical company that discovers, develops and commercializes medicines.

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