President and CEO George Stark of Stark Capital Management says his firm aims to invest for the long term, and Gilead Sciences, Inc. (NASDAQ:GILD) has been a very large-percentage gain for his clients.
This is a pharmaceutical company, which as you know, or many know, has come with a cure for hepatitis C and which has a renowned research capability. Previous to the discovery of this hepatitis C cure, they had actually made significant progress in developing drugs that would help AIDS patients and also various cancer-related drug cures.
The company is selling at a p/e of 7.2 times, which we consider to be very reasonable, and the company has an enormous cash position. So we are playing the fact that management will go out and find other acquisitions or drugs in development that they can buy that would add to the company’s growth as they have in the past.
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