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Gilead Sciences is trading at $90.11, up 24% since it revealed better-than-expected first-quarter results in May. For the first three months of 2014 the company revealed an EPS of $1.48 and revenue of $4.99 billion, while analysts expected figures of $0.91 and $3.95 billion respectively.
Gilead's hepatitis C drug, which sells for $1000 per pill, greatly contributed to its strong sales early in the year, but it has opened the debate about the cost of medication. The company is facing competition in the hepatitis C drug market from AbbVie and Merck, but for the time being it would appear that Gilead Sciences is ahead of its rivals.
Gilead still has a successful HIV treatment business, and sales of its drugs Stribild and Atripla are performing well even though they are currently being eclipsed by the hepatitis C drug Sovaldi.
The stock is receiving support at the 50-day moving average of $83.46. A strong set of results could put the $100.00 level in its crosshairs within the next quarter.
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