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 that highlight Gilead Sciences’ promising future prospects. The company is on track for FDA approval of its lenacapavir PrEP, with management expressing confidence in a timely approval and a strong launch strategy. The anticipated approval and subsequent launch are expected to significantly boost revenues, especially with the potential for high compliance rates and favorable reimbursement conditions.
Additionally, Gilead’s pipeline includes promising developments such as the once-yearly lenacapavir injection, which has shown positive Phase II data and is moving to Phase III trials. The company is also advancing in other areas, such as the Trodelvy for 1L TNBC and the BCMA CAR-T therapy for multiple myeloma, both of which are expected to contribute to revenue growth in the coming years. These strategic advancements and the company’s strong market position underpin the Buy rating.
Yee covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Blueprint Medicines, and Amgen. According to TipRanks, Yee has an average return of -3.0% and a 40.86% success rate on recommended stocks.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $135.00 price target.