Get Ready for More Acquisitions by Gilead Sciences
Investors woke up Monday morning to a pleasant surprise from Gilead Sciences (NASDAQ: GILD). The big biotech announced plans to acquire Kite Pharma (NASDAQ: KITE) for $11.9 billion. The market applauded the deal, with Gilead stock rising more than 2% in intra-day trading.
There are several reasons to like the acquisition. Adding Kite's pipeline, particularly lead candidate axicabtagene ciloleucel (axi-cel), makes Gilead an instant leader in cell therapy for treating cancer. But buying Kite Pharma should only be the beginning of acquisitions activity for Gilead. Here are three key reasons why.
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Source: Fool.com
Gilead Sciences Inc Stock
€60.11
-1.810%
With 11 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 84 € shows a positive potential of 39.74% compared to the current price of 60.11 € for Gilead Sciences Inc.
