By: Adam Feuerstein | 01/22/14 - 09:39 AM ESTBig bull call on Gilead Sciences (GILD) and its hepatitis C drug Sovaldi made this morning by ISI Group analyst Mark Schoenebaum:
"Based on early IMS data, it appears to be that GILD is likely to utterly annihilate 2014 consensus hepatitis C numbers," he writes.
Yesterday, I showed you the most recent Sovaldi prescriptions numbers from IMS Health, suggesting strong, early demand for the new hepatitis C pill. Gilead's commercial launch is going very well.
Based on his models, Schoenebaum now believes Sovaldi could generate 2014 sales exceeding $5 billion, possibly as high as $7 billion. The current buyside consensus is $3.5 billion, he says.
What's this mean for Gilead shares?
"Stock could be going to $100 fast," says Schoenebaum.
Gilead opened Wednesday up 3% to $84 per share. The stock is off to a strong start in 2014:
GILD data by YCharts
08/21/14 - 10:23 AM EDT
08/14/14 - 10:20 AM EDT
08/13/14 - 12:04 PM EDT
08/12/14 - 05:11 PM EDT
08/12/14 - 07:17 AM EDT
08/21/14 - 11:12 AM EDT
08/21/14 - 09:53 AM EDT
08/20/14 - 10:17 AM EDT
08/20/14 - 09:50 AM EDT
08/20/14 - 09:35 AM EDT
Access the tool that DOMINATES the Russell 2000 and the S&P 500.