This Dirt-Cheap Biotech Stock Is a Bargain to Buy

Gilead Sciences' (NASDAQ: GILD) sliding hepatitis C revenue has taken a toll on its share price since 2015 and new competition from AbbVie (NYSE: ABBV) poses an even bigger risk to its future hepatitis C revenue. Given that hepatitis C revenue has slipped from an annualized run rate of about $20 billion to $12 billion exiting the second quarter, it's little wonder Gilead Sciences has ended up in investors' discard pile. Nevertheless, there's a lot that could go right for Gilead Sciences from here and a bargain-basement valuation has me thinking that now is a good time to buy shares in this beaten-up biotech.

Make no mistake, Gilead Sciences' decision to leapfrog to the forefront of oncology research with its acquisition of Kite Pharma is a big reason why I think this company's stock should be in your portfolio.

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Source: Fool.com