Bank of America Securities analyst Tim Anderson maintained a Buy rating on Gilead Sciences (GILD – Research Report) today and set a price target of $126.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tim Anderson has given his Buy rating due to a combination of factors that highlight Gilead Sciences’ strong market position and growth potential. The company’s stock has shown impressive performance year-to-date, significantly outperforming the S&P 500. This robust performance is attributed to Gilead’s solid fundamentals, which include a relatively low risk of patent expirations that ensures stable revenue streams until at least 2033.
Additionally, Gilead’s key franchise, Biktarvy, continues to perform well, contributing to the company’s ability to exceed earnings expectations. Another factor driving the Buy rating is the anticipated launch of lenacapavir for HIV PrEP, which has garnered considerable investor interest. These elements, combined with a price objective of $126, support the positive outlook for Gilead Sciences’ stock.
Anderson covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Gilead Sciences, and Regeneron. According to TipRanks, Anderson has an average return of 10.4% and a 65.93% success rate on recommended stocks.
In another report released on June 4, Jefferies also maintained a Buy rating on the stock with a $130.00 price target.