Gilead at Record High on Sales Estimate: San Francisco Mover
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Shares of Gilead Sciences Inc., the world’s biggest maker of AIDS medicines, hit a record high after ISI Group analyst Mark Schoenebaum said sales estimates must go “way way up” on its experimental hepatitis C therapy.
Gilead rose 2.6 percent to $48.94 at the close of trading in New York, the company’s highest price since its stock debuted in January 1992. Shares of the Foster City, California-based company have doubled in the past 12 months.