Evan Seigerman, an analyst from BMO Capital, maintained the Buy rating on Gilead Sciences (GILD – Research Report). The associated price target remains the same with $120.00.
Evan Seigerman’s rating is based on a combination of factors that highlight Gilead Sciences’ strengths and future potential. Despite a slight miss in headline numbers, the company’s core business, particularly in HIV treatments, remains robust. The anticipated U.S. launch of lenacapavir in 2025 is expected to bolster Gilead’s position in the market, providing a significant growth opportunity.
Additionally, while there were some challenges in oncology sales due to inventory dynamics, the overall outlook for Gilead’s oncology franchise is positive. The company’s advancements in other therapeutic areas, such as obesity and type 2 diabetes, also present potential for future growth. Gilead’s current trading discount compared to its large-cap peers suggests that there is room for valuation improvement as the company continues to derisk its oncology portfolio.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $126.00 price target.