UPDATE: Piper Jaffray Initiates Coverage on Gilead Sciences on Expected Attractive Returns

In a report published Wednesday, Piper Jaffray analyst Joshua E. Schimmer initiated coverage on Gilead Sciences (NASDAQ: GILD ) with an Overweight rating and $91.00 price target. In the report, Piper Jaffray noted, “We are initiating, resuming or assuming coverage on 16 biotechnology companies. We believe the outlook for the