UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Gilead Sciences

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Gilead Sciences GILD, and raised its price target from $55.00 to $59.00. Jefferies noted, “On its earnings call, GILD highlighted key interim Phase 3 data on 7977+5885 in 1Q13 (although GILD may not disclose it), as well as 12-week treatment data for 7977+ daclatasvir and ELECTRON data for 7977+5885 in GT1 naives (at AASLD in Nov), to determine the ideal 7977 regimen for GT1 HCV. We are positive on 7977 prospects and continue work on sizing the HCV market to better analyze valuation.” Gilead Sciences closed on Tuesday at $64.91.