Analyst Michael Yee of Jefferies maintained a Buy rating on Gilead Sciences (GILD – Research Report), retaining the price target of $130.00.
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Michael Yee has given his Buy rating due to a combination of factors, primarily focusing on the promising developments in Gilead Sciences’ oncology pipeline. The recent positive Phase III data for Trodelvy in first-line treatment of PD1+ triple-negative breast cancer (TNBC) has shown a significant improvement in progression-free survival compared to the current standard of care. This data suggests that Trodelvy could become a new standard of care, which is a major advancement given the high unmet need in TNBC patients.
Furthermore, the investor sentiment around Gilead’s oncology prospects has been bolstered by these results, despite previous challenges and competition in the field. The anticipated FDA approval next year and the potential growth of Trodelvy contribute positively to Gilead’s outlook. Additionally, the broader investment thesis for Gilead is supported by ongoing developments in their HIV portfolio, with an upcoming decision on Lenacapavir expected to further enhance investor confidence.
According to TipRanks, Yee is an analyst with an average return of -3.4% and a 40.66% success rate. Yee covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Blueprint Medicines, and Amgen.
In another report released today, Citi also maintained a Buy rating on the stock with a $125.00 price target.