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#SaxoStrats: Buying Gilead Sciences ahead of Q4 earnings

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Saxo Bank’s Head of Equity Strategy Peter Garnry is looking to buy shares in Gilead Sciences ahead of the Q4 earnings as he believes the company outlook for 2016 may positively surprise the markets.

The US biotech company is scheduled to report its quarterly results on Tuesday February 2 after market close. Analysts are expecting revenue of USD 8.2 billion, up 12% year-on-year as well as adjusted earnings per share of USD 2.99, up 34% year-on-year.

According to Garnry the stock has fallen ahead of the Q4 report and could see a rally on a better-than-expected outlook. He outlines his trade and is looking to buy at market with a trailing stop price at USD 79.15 and steps of USD 0.78.