Terence Flynn, an analyst from Morgan Stanley, maintained the Buy rating on Gilead Sciences. The associated price target remains the same with $143.00.
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Terence Flynn has given his Buy rating due to a combination of factors that highlight the potential growth and positive outlook for Gilead Sciences. The recent update from the US CDC recommending Gilead’s Yeztugo for HIV pre-exposure prophylaxis (PrEP) is a significant endorsement. This recommendation is based on the demonstrated efficacy and safety of Yeztugo, which could lead to improved adherence and enhanced HIV prevention, thus driving demand for the product.
Additionally, Gilead’s strategic efforts to secure commercial coverage for Yeztugo are noteworthy, with expectations to achieve substantial coverage by the end of 2025. The product’s inclusion in Medicaid formularies in key states and the effective J-code further support its market penetration. Insights from healthcare professionals suggest a promising uptake of Yeztugo among new PrEP users and those switching from other medications, indicating a strong potential for growth in sales. These factors collectively contribute to Flynn’s optimistic outlook and Buy rating for Gilead Sciences.
Flynn covers the Healthcare sector, focusing on stocks such as BioNTech SE, Gilead Sciences, and Royalty Pharma. According to TipRanks, Flynn has an average return of 3.5% and a 54.84% success rate on recommended stocks.
In another report released on September 16, J.P. Morgan also maintained a Buy rating on the stock with a $145.00 price target.