TheFlyOnTheWall.com reported this morning that Gilead Sciences, Inc. (NASDAQ:GILD), announced that the company has submitted a New Drug Application to Japan’s Pharmaceutical and Medical Devices Agency for approval of sofosbuvir, which is a  nucleotide analog polymerase inhibitor for the treatment of chronic hepatitis C virus infection.

Gilead Sciences, Inc.(NASDAQ:GILD) opened trading today at $82.18 and is trading in the range of 82.18-82.22 thus far today. Gilead’s current valuation stands at $126.36 billion. Sector Performance Compared to other peers in the Biotechnology sector, GILD has outperformed in terms of quarterly revenue growth year over year at 0.98 vs. the industry average of 0.09. Gileads’s earnings per share is currently at 2.70, which trumps the sector average of -0.24.

Gilead Sciences is currently covered by 23 Wall Street analysts. The mean target price is $100.87 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 1.8 which is based on 10 Strong Buy, 13 Buy and 4 Hold ratings. The most recent analyst actions consisted of Robert W. Baird upgrading their rating from neutral to outperform in February. The current quarter EPS consensus estimate is 1.60 with revenue estimates of 5.30B. Sales are expected to grow at a 98.80% rate. Gilead reported actual earnings last quarter of 0.50 which meat the .50 consensus estimate.