William Blair initiates Gilead coverage at market perform

Gilead Sciences, Inc. coverage was initiated by William Blair & Co. analyst John Sonnier at a market perform rating, saying the company has a successful record in discovery, development and commercialization of drugs to treat infectious diseases. It is the most profitable of the established biotechnology companies, Sonnier said, but added that strong performance in the last two years and a dearth of programs in midstage development could make growth more difficult to come by in the next two years. Shares of the Foster City, Calif., biopharmaceutical company were up $1.66, or 3.33%, at $51.53 on volume of 4,313,719 shares versus the three-month running average of 3,536,350 shares.

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