RBC Capital lowered the firm’s price target on Gilead to $76 from $78 and keeps a Sector Perform rating on the shares. The company’s Q4 results underscored some potential simmering pricing and competitive risks to its core HIV and cell therapy franchises, the analyst tells investors in a research note. The slightly less steady go-forward growth expectations even before IRA impact takes effect may ratchet up pressure on the oncology pipeline to produce more definitive late-stage data, RBC added.
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